Planet Labs PBC (NYSE:PL) Upgraded by Berenberg Bank to Strong-Buy Rating

Key Points

• Berenberg Bank upgraded Planet Labs to “strong buy,” while analyst sentiment remains mixed: MarketBeat reports a consensus “hold” rating and an average price target of $34.56.
• Planet reported quarterly revenue of $116.05 million, up 58.2% year over year, and adjusted EPS of $0.02 versus expectations for a $0.02 loss.
• Shares fell 7.9% to $18.42 amid concerns about weaker third-quarter revenue guidance of $101 million–$105 million, below the $114.3 million consensus estimate, as well as continued profitability challenges.

Planet Labs PBC (NYSE:PL - Get Free Report) was upgraded by Berenberg Bank to a "strong-buy" rating in a report issued on Wednesday, Zacks reports.

A number of other analysts have also recently commented on the company. Needham & Company LLC lifted their price target on Planet Labs PBC from $40.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Zacks Research raised Planet Labs PBC from a "strong sell" rating to a "hold" rating in a report on Thursday, July 2nd. Northland Securities set a $50.00 price objective on Planet Labs PBC in a research note on Friday, June 5th. New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 price objective for the company. Finally, Craig Hallum lifted their target price on Planet Labs PBC from $36.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Planet Labs PBC has a consensus rating of "Hold" and an average price target of $34.56.

Planet Labs PBC Trading Down 7.9%

Shares of Planet Labs PBC stock opened at $18.42 on Wednesday. The firm's 50 day simple moving average is $23.84 and its two-hundred day simple moving average is $30.12. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -16.16 and a beta of 2.10. Planet Labs PBC has a 12-month low of $6.26 and a 12-month high of $51.76. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business's revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. Analysts predict that Planet Labs PBC will post -0.92 EPS for the current year.

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 75,035 shares of the stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the sale, the chief financial officer directly owned 1,132,122 shares of the company's stock, valued at approximately $24,997,253.76. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Raymond sold 6,494 shares of Planet Labs PBC stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the transaction, the director owned 37,114 shares of the company's stock, valued at $970,902.24. The trade was a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 171,122 shares of company stock worth $4,148,906 over the last three months. Company insiders own 16.42% of the company's stock.

Institutional Trading of Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Capital Advisory LLC acquired a new position in Planet Labs PBC in the first quarter valued at approximately $28,000. Western Wealth Management LLC acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth approximately $28,000. Pittenger & Anderson Inc. increased its holdings in shares of Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company's stock valued at $38,000 after purchasing an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Planet Labs PBC during the 1st quarter valued at approximately $41,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock valued at $31,000 after purchasing an additional 745 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet reported record second-quarter revenue of $116.1 million, up 58% year over year, marking its fourth consecutive quarter meeting or exceeding the Rule of 40. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Planet signed a seven-figure agreement with a European defense and intelligence customer, reinforcing demand for its satellite imagery and analytics in government and defense markets. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: On an adjusted basis, Planet posted earnings of $0.02 per share, versus analysts’ expected loss of $0.02, while the company’s full-year revenue outlook of $430 million to $441 million is broadly consistent with the $436.3 million consensus estimate. Planet Labs Tops Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Berenberg initiated or reiterated a Buy rating, providing analyst support, although the rating may be overshadowed by the company’s guidance and broader weakness in space-related stocks. Planet Labs Gets a Buy from Berenberg Bank
• Negative Sentiment: Planet’s third-quarter revenue outlook of $101 million to $105 million is well below the $114.3 million consensus estimate, raising concerns about a near-term growth slowdown.
• Negative Sentiment: Reported GAAP results showed a $0.03-per-share loss, slightly worse than the $0.02 expected loss, with profitability still weak. The combination of the earnings shortfall and below-consensus quarterly guidance likely drove the selling pressure. Planet Labs Earnings Results
• Negative Sentiment: Shares also faced sector-wide selling among commercial space and satellite companies, limiting the positive impact of Planet’s defense announcement. Planet Labs Sinks Despite New Defense Contract

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company's multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet's imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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