FY2026 EPS Forecast for Planet Labs PBC Decreased by Analyst

Planet Labs PBC (NYSE:PL - Free Report) - Equities researchers at Cantor Fitzgerald reduced their FY2026 earnings per share estimates for shares of Planet Labs PBC in a note issued to investors on Tuesday, June 24th. Cantor Fitzgerald analyst C. Canfield now expects that the company will post earnings of ($0.34) per share for the year, down from their previous forecast of ($0.32). Cantor Fitzgerald has a "Overweight" rating and a $8.50 price target on the stock. The consensus estimate for Planet Labs PBC's current full-year earnings is ($0.37) per share.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced 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 return on equity of 23.36% and a negative net margin of 42.58%. The firm had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million.

Several other research firms also recently weighed in on PL. Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Citigroup boosted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. Wedbush boosted their price target 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. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.60.

Planet Labs PBC Stock Performance

PL stock traded down $0.02 on Thursday, hitting $6.05. 26,416,731 shares of the company's stock were exchanged, compared to its average volume of 4,675,178. The firm has a 50 day moving average price of $4.26 and a two-hundred day moving average price of $4.32. The stock has a market cap of $1.83 billion, a P/E ratio of -16.79 and a beta of 1.61. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71.

Institutional Trading of Planet Labs PBC

A number of hedge funds have recently modified their holdings of PL. Dimensional Fund Advisors LP increased its position in shares of Planet Labs PBC by 101.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock valued at $8,140,000 after buying an additional 1,013,234 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Planet Labs PBC by 227.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company's stock valued at $5,127,000 after buying an additional 880,966 shares in the last quarter. Liontrust Investment Partners LLP increased its position in shares of Planet Labs PBC by 175.0% in the first quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company's stock valued at $3,604,000 after buying an additional 678,486 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock valued at $6,274,000 after buying an additional 653,173 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $2,568,000. Hedge funds and other institutional investors 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.