Mirova Makes New Investment in Planet Labs PBC $PL

Key Points

• Mirova has invested approximately $296,000 in Planet Labs PBC by acquiring 87,686 shares, marking its first stake in the company this year.
• Planet Labs PBC reported a revenue of $66.27 million for the most recent quarter, surpassing analysts' expectations of $62.25 million.
• Several research firms have raised their price targets for Planet Labs PBC, with Citigroup and Wedbush setting new targets at $7.00 and $7.00, respectively, both issuing a "buy" rating.

Mirova bought a new stake in Planet Labs PBC (NYSE:PL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 87,686 shares of the company's stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also modified their holdings of PL. Wells Fargo & Company MN lifted its stake in shares of Planet Labs PBC by 129.3% in the fourth quarter. Wells Fargo & Company MN now owns 346,631 shares of the company's stock worth $1,400,000 after buying an additional 195,471 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Planet Labs PBC by 14.3% in the fourth quarter. Invesco Ltd. now owns 287,843 shares of the company's stock worth $1,163,000 after buying an additional 35,990 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Planet Labs PBC by 12.8% in the fourth quarter. Legal & General Group Plc now owns 231,595 shares of the company's stock worth $936,000 after buying an additional 26,333 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Planet Labs PBC in the fourth quarter worth $1,648,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Planet Labs PBC by 790.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after buying an additional 6,072 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of PL traded up $0.15 during trading hours on Thursday, hitting $7.23. The stock had a trading volume of 7,783,805 shares, compared to its average volume of 6,706,659. The company's fifty day moving average is $6.42 and its two-hundred day moving average is $4.92. Planet Labs PBC has a 52 week low of $1.76 and a 52 week high of $7.72. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -20.07 and a beta of 1.80.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The business had revenue of $66.27 million for the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PL shares. Wedbush boosted their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. JMP Securities upped their target price on shares of Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC reiterated a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 target price for the company. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Planet Labs PBC has an average rating of "Moderate Buy" and an average price target of $6.86.

Planet Labs PBC 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.