Planet Labs PBC (NYSE:PL) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Planet Labs PBC (NYSE:PL - Free Report) in a research report sent to investors on Tuesday, Marketbeat reports. They currently have a $8.50 target price on the stock, up from their prior target price of $6.30. Cantor Fitzgerald also issued estimates for Planet Labs PBC's FY2026 earnings at ($0.34) EPS.

PL has been the subject of several other reports. Wedbush upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. The Goldman Sachs Group reissued a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Citigroup increased their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 5th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Planet Labs PBC presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.60.

Planet Labs PBC Stock Performance

Shares of NYSE:PL traded up $0.01 during trading on Tuesday, reaching $6.07. 15,618,438 shares of the stock were exchanged, compared to its average volume of 4,632,119. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -16.88 and a beta of 1.61. The firm's 50-day moving average price is $4.21 and its 200 day moving average price is $4.30.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $66.27 million during the quarter, compared to analysts' expectations of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its stake in shares of Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after buying an additional 6,072 shares in the last quarter. Wedbush Securities Inc. bought a new stake in Planet Labs PBC during the 4th quarter worth about $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC during the fourth quarter valued at approximately $42,000. Sciencast Management LP acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at $43,000. Finally, Iron Gate Global Advisors LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 41.71% of the company's stock.

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.