Planet Labs PBC (NYSE:PL) Earns “Market Outperform” Rating from JMP Securities

Planet Labs PBC (NYSE:PL)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued on Friday, Benzinga reports. They presently have a $4.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 92.31% from the company’s current price.

PL has been the topic of several other research reports. Needham & Company LLC reduced their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. Craig Hallum increased their price target on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group cut their price objective on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Planet Labs PBC presently has an average rating of “Moderate Buy” and an average price target of $3.93.

Planet Labs PBC Stock Down 1.9 %

NYSE:PL traded down $0.04 during mid-day trading on Friday, hitting $2.08. 555,969 shares of the company traded hands, compared to its average volume of 1,688,559. The firm has a market cap of $604.81 million, a price-to-earnings ratio of -4.33 and a beta of 1.00. Planet Labs PBC has a one year low of $1.67 and a one year high of $2.89. The stock’s fifty day moving average price is $2.30 and its 200-day moving average price is $2.10.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Planet Labs PBC in the 4th quarter valued at approximately $34,000. Perkins Coie Trust Co acquired a new stake in shares of Planet Labs PBC during the 2nd quarter worth approximately $28,000. Algert Global LLC purchased a new position in shares of Planet Labs PBC during the 2nd quarter valued at approximately $38,000. Virtu Financial LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at $52,000. Finally, Victory Capital Management Inc. raised its position in shares of Planet Labs PBC by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock worth $55,000 after acquiring an additional 5,284 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.