Planet Labs PBC’s (PL) Market Outperform Rating Reiterated at JMP Securities

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

Several other research analysts have also commented on the company. The Goldman Sachs Group cut their price target 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. Wedbush reiterated an outperform rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. Craig Hallum raised their price objective on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a hold rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reduced 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Planet Labs PBC presently has an average rating of Moderate Buy and a consensus target price of $3.93.

Planet Labs PBC Trading Up 1.4 %

PL stock opened at $2.24 on Thursday. The company’s 50 day moving average is $2.30 and its two-hundred day moving average is $2.10. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89. The stock has a market cap of $651.33 million, a P/E ratio of -4.67 and a beta of 1.00.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $61.57 million. Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. On average, equities research analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

A number of large investors have recently bought and sold shares of PL. Victory Capital Management Inc. boosted its holdings 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 valued at $55,000 after acquiring an additional 5,284 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Planet Labs PBC by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after purchasing an additional 5,395 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Planet Labs PBC by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after purchasing an additional 6,215 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in 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 worth $121,000 after purchasing an additional 6,910 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in shares of Planet Labs PBC by 9.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock worth $334,000 after buying an additional 11,365 shares in the last quarter. Hedge funds and other institutional investors 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.