Planet Labs PBC (NYSE:PL) Price Target Raised to $12.00

Key Points

• Needham & Company LLC has increased its price target for Planet Labs PBC from $8.00 to $12.00, maintaining a "buy" rating, suggesting a potential upside of 23.78% from the stock's previous close.
• Planet Labs' stock has shown strong performance, reporting quarterly revenues of $73.39 million, which exceeded analyst estimates, even though it reported a loss of ($0.07) earnings per share.
• Nine analysts currently rate Planet Labs with a "Buy," reflecting a consensus rating of "Moderate Buy," while institutional investors own approximately 41.71% of the company's stock.

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective lifted by stock analysts at Needham & Company LLC from $8.00 to $12.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 22.99% from the stock's previous close.

Other analysts also recently issued reports about the stock. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Wedbush increased 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. The Goldman Sachs Group began 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 for the company. JMP Securities increased their price target on shares of Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a report on Tuesday, July 22nd. Finally, Citigroup increased their price target 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Planet Labs PBC has a consensus rating of "Moderate Buy" and a consensus target price of $7.56.

Planet Labs PBC Price Performance

Shares of NYSE PL traded up $0.09 during trading hours on Tuesday, hitting $9.76. 14,933,629 shares of the stock were exchanged, compared to its average volume of 13,245,419. The company's 50 day moving average is $6.90 and its 200 day moving average is $5.11. The firm has a market capitalization of $2.96 billion, a P/E ratio of -32.52 and a beta of 1.81. Planet Labs PBC has a one year low of $2.02 and a one year high of $10.08.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $73.39 million for the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.Planet Labs PBC's quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

A number of 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 worth $95,000 after acquiring an additional 6,101 shares during the period. American Trust bought a new position in shares of Planet Labs PBC during the 2nd quarter worth about $103,000. Tower Research Capital LLC TRC lifted its holdings in shares of Planet Labs PBC by 2,119.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company's stock worth $653,000 after acquiring an additional 102,277 shares during the period. Oxford Asset Management LLP acquired a new stake in shares of Planet Labs PBC during the 2nd quarter worth about $70,000. Finally, HRT Financial LP acquired a new stake in shares of Planet Labs PBC during the 2nd quarter worth about $3,305,000. 41.71% of the stock is owned by institutional investors.

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.