Needham & Company LLC Increases Planet Labs PBC (NYSE:PL) Price Target to $53.00

Key Points

• Needham & Company LLC raised its price target on Planet Labs PBC from $40 to $53 and kept a buy rating, implying about 22% upside from the current share price.
• Planet Labs recently reported quarterly revenue of $94.15 million, topping estimates, while EPS of -$0.03 matched expectations. Revenue grew 42.1% year over year, showing continued top-line momentum despite ongoing losses.
• The company also raised its guidance, projecting Q2 FY2027 revenue of $102 million to $107 million and full-year FY2027 revenue of $425 million to $441 million, supported by an extended government contract and new award from the NGA.

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective lifted by stock analysts at Needham & Company LLC from $40.00 to $53.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective would suggest a potential upside of 21.99% from the company's current price.

Several other research analysts also recently weighed in on PL. The Goldman Sachs Group increased their price target on shares of Planet Labs PBC from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 price objective for the company. Weiss Ratings downgraded Planet Labs PBC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Morgan Stanley boosted their price target on Planet Labs PBC from $26.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, March 25th. Finally, Zacks Research cut Planet Labs PBC from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $31.69.

Planet Labs PBC Price Performance

NYSE PL opened at $43.45 on Friday. Planet Labs PBC has a 52 week low of $4.90 and a 52 week high of $51.76. The firm has a market capitalization of $15.04 billion, a P/E ratio of -55.70 and a beta of 1.99. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The company has a 50-day moving average price of $38.85 and a 200-day moving average price of $27.60.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.03). The company had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.00 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The company's revenue was up 42.1% on a year-over-year basis. Equities research analysts anticipate that Planet Labs PBC will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 73,683 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the transaction, the insider owned 256,488 shares in the company, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the firm's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer directly owned 1,895,162 shares of the company's stock, valued at $66,520,186.20. The trade was a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.42% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC purchased a new stake in shares of Planet Labs PBC in the first quarter worth about $28,000. Western Wealth Management LLC bought a new position in shares of Planet Labs PBC during the 1st quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its position in shares of Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock valued at $31,000 after acquiring an additional 745 shares during the last quarter. MCF Advisors LLC bought a new stake in Planet Labs PBC in the third quarter worth $32,000. Finally, Baillie Gifford & Co. bought a new stake in Planet Labs PBC in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs reported fiscal Q1 2027 results with revenue of $94.15 million, topping estimates, while EPS of -$0.03 matched expectations and revenue grew 42.1% year over year. Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company raised its outlook, guiding Q2 FY2027 revenue to $102 million-$107 million and FY2027 revenue to $425 million-$441 million, both above or near Wall Street expectations, which signals confidence in continued growth. Planet forecasts FY2027 revenue of $425M-$441M as it targets Rule of 40
• Positive Sentiment: Planet extended its National Geospatial-Intelligence Agency relationship with an 8-figure contract extension for maritime surveillance and a new crisis-response monitoring award, reinforcing recurring government revenue and demand for its geospatial data services. Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response Monitoring
• Neutral Sentiment: The Q1 earnings call transcript and presentation may have helped investors dig into management’s growth strategy and Rule of 40 targets, but they do not add new headline-moving information beyond the results and guidance. Planet Labs PBC (PL) Q1 2027 Earnings Call Transcript
• Negative Sentiment: Despite the strong report, one market commentary said the stock slipped, suggesting some investors may be taking profits or focusing on profitability challenges given ongoing losses and negative margins. Planet Labs stock slips despite strong Q1 earnings: Details

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company's multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet's imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

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