FY2026 EPS Estimates for Planet Labs PBC Reduced by Analyst

Planet Labs PBC (NYSE:PL - Free Report) - Stock analysts at Cantor Fitzgerald cut their FY2026 earnings per share (EPS) estimates for Planet Labs PBC in a report released 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 prior forecast of ($0.32). Cantor Fitzgerald currently has a "Overweight" rating and a $8.50 target price 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 released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $66.27 million during the quarter, compared to analysts' expectations of $62.25 million.

Several other equities research analysts also recently weighed in on PL. Wedbush upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. 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. Citigroup upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Finally, Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $6.60.

Planet Labs PBC Trading Down 2.5%

PL stock opened at $5.43 on Thursday. The stock has a 50-day moving average price of $4.15 and a two-hundred day moving average price of $4.29. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The company has a market cap of $1.65 billion, a PE ratio of -15.08 and a beta of 1.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings in Planet Labs PBC by 790.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Planet Labs PBC during the fourth quarter valued at approximately $41,000. SBI Securities Co. Ltd. acquired a new stake in Planet Labs PBC during the fourth quarter valued at approximately $42,000. Sciencast Management LP acquired a new stake in Planet Labs PBC during the fourth quarter valued at approximately $43,000. Finally, Iron Gate Global Advisors LLC acquired a new stake in Planet Labs PBC during the first quarter valued at approximately $36,000. 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.

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.