Planet Labs PBC (NYSE:PL) Price Target Raised to $11.00 at JMP Securities

Key Points

• JMP Securities has raised its price target for Planet Labs PBC from $8.00 to $11.00, indicating a potential upside of 13.46% from its current price.
• Planet Labs PBC reported a 20.1% increase in revenue compared to the same quarter last year, although it posted a loss of $0.07 EPS, missing estimates.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with nine rated as Buy and one as Hold.

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective increased by analysts at JMP Securities from $8.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective indicates a potential upside of 12.74% from the company's previous close.

A number of other brokerages have also weighed in on PL. Wedbush lifted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They issued a "neutral" rating and a $4.60 price target on the stock. Finally, Citigroup lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a "buy" rating in a report on Friday, June 6th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.56.

Planet Labs PBC Trading Up 0.9%

Shares of PL traded up $0.09 during mid-day trading on Tuesday, reaching $9.76. The company had a trading volume of 14,933,629 shares, compared to its average volume of 13,245,419. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -32.52 and a beta of 1.81. The firm has a fifty day simple moving average of $6.90 and a 200-day simple moving average of $5.11. Planet Labs PBC has a fifty-two week low of $2.02 and a fifty-two week 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) earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Planet Labs PBC by 64.3% during the 2nd quarter. Osaic Holdings Inc. now owns 15,588 shares of the company's stock valued at $95,000 after acquiring an additional 6,101 shares in the last quarter. American Trust acquired a new position in Planet Labs PBC in the 2nd quarter worth $103,000. Tower Research Capital LLC TRC lifted its holdings in Planet Labs PBC by 2,119.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company's stock worth $653,000 after buying an additional 102,277 shares in the last quarter. Oxford Asset Management LLP acquired a new position in Planet Labs PBC in the 2nd quarter worth $70,000. Finally, HRT Financial LP acquired a new position in Planet Labs PBC in the 2nd quarter worth $3,305,000. Institutional investors and hedge funds own 41.71% of the company's stock.

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.