Planet Labs PBC (NYSE:PL) Stock Rating Reaffirmed by JMP Securities

Planet Labs PBC (NYSE:PL)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research report issued on Friday, Benzinga reports. They currently have a $4.00 price objective on the stock. JMP Securities’ price target points to a potential upside of 124.72% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PL. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. Craig Hallum increased their target price on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday. Finally, Needham & Company LLC decreased their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.20.

Planet Labs PBC Stock Performance

PL opened at $1.78 on Friday. The stock has a fifty day moving average of $2.26 and a 200-day moving average of $2.11. The company has a market capitalization of $517.57 million, a P/E ratio of -3.71 and a beta of 1.00. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $3.15.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $60.44 million during the quarter, compared to analyst estimates of $59.80 million. Planet Labs PBC had a negative return on equity of 25.89% and a negative net margin of 59.26%. During the same quarter last year, the firm earned ($0.13) EPS. On average, equities research analysts predict that Planet Labs PBC will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently modified their holdings of PL. Perkins Coie Trust Co bought a new position in Planet Labs PBC in the second quarter valued at about $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at approximately $34,000. Algert Global LLC bought a new stake in shares of Planet Labs PBC during the 2nd quarter valued at approximately $38,000. Virtu Financial LLC acquired a new position in Planet Labs PBC during the 1st quarter worth approximately $52,000. Finally, Victory Capital Management Inc. increased its position in Planet Labs PBC by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock worth $55,000 after purchasing an additional 5,284 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

About Planet Labs PBC

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.