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

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 target price lifted by research analysts at JMP Securities from $8.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target points to a potential upside of 13.46% from the company's current price.

Several other brokerages also recently issued reports on PL. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Wedbush raised 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. Needham & Company LLC lifted their price target on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective for the company. Finally, Citigroup raised their target price 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. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Planet Labs PBC has a consensus rating of "Moderate Buy" and a consensus price target of $7.56.

Planet Labs PBC Trading Up 48.5%

NYSE:PL opened at $9.70 on Tuesday. The firm's fifty day simple moving average is $6.67 and its 200 day simple moving average is $4.98. Planet Labs PBC has a twelve month low of $1.79 and a twelve month high of $9.71. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -26.93 and a beta of 1.81.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The company had revenue of $73.39 million during the quarter, compared to analysts' expectations of $65.88 million. During the same period last year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

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

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.

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