Planet Labs PBC $PL Stock Position Raised by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Planet Labs PBC by 54.3% during the first quarter, acquiring a total of 1,856,245 shares valued at approximately $6.27 million.
• Planet Labs PBC reported a quarterly revenue of $73.39 million, exceeding estimates and showing a 20.1% increase compared to the previous year, although it posted a loss of ($0.07) EPS.
• Following analyst upgrades, including a price target increase by Needham & Company LLC from $8.00 to $12.00, the consensus price target for Planet Labs PBC is now $7.56 with a rating of "Moderate Buy."

Goldman Sachs Group Inc. raised its position in shares of Planet Labs PBC (NYSE:PL - Free Report) by 54.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,856,245 shares of the company's stock after purchasing an additional 653,173 shares during the period. Goldman Sachs Group Inc. owned 0.61% of Planet Labs PBC worth $6,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Planet Labs PBC by 8.0% in the 4th quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock valued at $7,945,000 after acquiring an additional 145,123 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Planet Labs PBC in the 4th quarter valued at approximately $110,000. Bank of America Corp DE raised its stake in shares of Planet Labs PBC by 55.2% in the 4th quarter. Bank of America Corp DE now owns 225,219 shares of the company's stock valued at $910,000 after acquiring an additional 80,117 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Planet Labs PBC in the 4th quarter valued at approximately $46,000. Finally, Deutsche Bank AG raised its stake in shares of Planet Labs PBC by 48.9% in the 4th quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after acquiring an additional 68,465 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Price Performance

Shares of PL stock opened at $9.76 on Monday. The stock's fifty day simple moving average is $6.90 and its 200 day simple moving average is $5.11. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -32.52 and a beta of 1.81. Planet Labs PBC has a one year low of $2.02 and a one year high of $10.08.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $73.39 million during the quarter, compared to analyst estimates of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. Planet Labs PBC's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

PL has been the topic of a number of recent analyst reports. Citigroup reissued an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective on the stock. Wedbush raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Needham & Company LLC lifted their price target on Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Nine equities research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $7.56.

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.

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