Mirova Invests $296,000 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 acquired a new stake in shares of Planet Labs PBC (NYSE:PL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,686 shares of the company's stock, valued at approximately $296,000.

A number of other hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings 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 valued at $1,400,000 after purchasing an additional 195,471 shares during the last quarter. Invesco Ltd. increased its holdings in Planet Labs PBC by 14.3% in the 4th quarter. Invesco Ltd. now owns 287,843 shares of the company's stock worth $1,163,000 after acquiring an additional 35,990 shares during the last quarter. Legal & General Group Plc lifted its holdings in Planet Labs PBC by 12.8% during the 4th quarter. Legal & General Group Plc now owns 231,595 shares of the company's stock worth $936,000 after purchasing an additional 26,333 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Planet Labs PBC during the fourth quarter worth about $1,648,000. Finally, Sterling Capital Management LLC grew its position in Planet Labs PBC by 790.6% during 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 in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of NYSE PL traded down $0.29 during mid-day trading on Friday, reaching $6.92. The company's stock had a trading volume of 4,167,173 shares, compared to its average volume of 6,691,345. The firm has a market capitalization of $2.10 billion, a PE ratio of -19.24 and a beta of 1.80. The stock has a fifty day moving average of $6.46 and a two-hundred day moving average of $4.93. Planet Labs PBC has a 52 week low of $1.76 and a 52 week high of $7.72.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS 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 analysts' expectations of $62.25 million. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. Analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They set a "neutral" rating and a $4.60 price target for the company. Citigroup raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wedbush raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research report 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 stock a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Planet Labs PBC presently has an average rating of "Moderate Buy" and an average target price of $6.86.

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.