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

Planet Labs PBC (NYSE:PL)‘s stock had its “market outperform” rating reissued by JMP Securities in a research note issued to investors on Friday, Benzinga reports. They presently have a $4.00 price target on the stock. JMP Securities’ price target points to a potential upside of 94.17% from the company’s previous close.

PL has been the topic of several other research reports. The Goldman Sachs Group cut their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Craig Hallum boosted their price objective 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. Needham & Company LLC dropped their target price on shares of 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, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.93.

Planet Labs PBC Price Performance

Shares of PL stock opened at $2.06 on Friday. The business has a 50-day moving average of $2.31 and a 200 day moving average of $2.10. The stock has a market capitalization of $598.99 million, a PE ratio of -4.29 and a beta of 1.00. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $2.89.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Planet Labs PBC by 1.4% during the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after buying an additional 261,019 shares during the period. Teramo Advisors LLC increased its stake in shares of Planet Labs PBC by 3.0% in the 2nd quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock worth $2,107,000 after acquiring an additional 32,700 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Planet Labs PBC by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock valued at $1,184,000 after acquiring an additional 56,124 shares during the period. Renaissance Technologies LLC boosted its stake in Planet Labs PBC by 52.2% during the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after acquiring an additional 206,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Planet Labs PBC by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock worth $1,495,000 after purchasing an additional 13,075 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.