Planet Labs PBC (NYSE:PL) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research report released on Friday morning, Benzinga reports. They currently have a $4.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the company a hold rating in a research report on Friday, September 6th. Wedbush restated an outperform rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Friday, August 16th. Needham & Company LLC lowered their price target on Planet Labs PBC from $7.00 to $5.00 and set a buy rating for the company 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 investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $3.93.

Planet Labs PBC Trading Down 2.8 %

Shares of PL opened at $2.06 on Friday. The firm has a market capitalization of $598.99 million, a P/E ratio of -4.29 and a beta of 1.00. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89. The stock’s fifty day simple moving average is $2.31 and its 200 day simple moving average is $2.10.

Institutional Investors Weigh In On Planet Labs PBC

Several large investors have recently made changes to their positions in PL. Algert Global LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter worth $38,000. The Manufacturers Life Insurance Company grew its holdings in Planet Labs PBC by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock worth $134,000 after acquiring an additional 5,395 shares during the period. Squarepoint Ops LLC raised its position in Planet Labs PBC by 343.7% in the second quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock worth $320,000 after acquiring an additional 133,307 shares in the last quarter. XTX Topco Ltd acquired a new stake in Planet Labs PBC in the 2nd quarter valued at about $201,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Planet Labs PBC by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after purchasing an additional 6,910 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.