Strs Ohio Acquires New Stake in Planet Labs PBC $PL

Key Points

• Strs Ohio acquired a new stake in Planet Labs PBC by purchasing 95,700 shares, valued at approximately $323,000.
• Wall Street analysts are optimistic about the stock, with multiple firms raising their price targets and giving it an overall rating of "Moderate Buy."
• Despite reporting a quarterly loss of ($0.07) earnings per share, Planet Labs' revenue of $73.39 million exceeded analysts' expectations.

Strs Ohio bought a new position in Planet Labs PBC (NYSE:PL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 95,700 shares of the company's stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Iron Gate Global Advisors LLC purchased a new position in shares of Planet Labs PBC during the first quarter worth about $36,000. HighTower Advisors LLC bought a new stake in Planet Labs PBC during the first quarter valued at approximately $37,000. Forum Financial Management LP bought a new stake in Planet Labs PBC during the first quarter valued at approximately $39,000. Wellington Shields & Co. LLC purchased a new position in Planet Labs PBC in the 1st quarter worth approximately $39,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock worth $45,000 after buying an additional 3,245 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

PL has been the subject of a number of research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. 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 note on Tuesday, September 9th. Wedbush upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Finally, JMP Securities upped their target price on Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a research note on Tuesday, September 9th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Planet Labs PBC currently has an average rating of "Moderate Buy" and an average target price of $7.56.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock opened at $12.08 on Wednesday. Planet Labs PBC has a 52-week low of $2.05 and a 52-week high of $12.13. The company's 50 day moving average price is $7.48 and its 200-day moving average price is $5.42. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -40.25 and a beta of 1.81.

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

Planet Labs PBC Company 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.

Want to see what other hedge funds are holding PL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Labs PBC (NYSE:PL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.