Planet Labs PBC (NYSE:PL) Given New $35.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on Planet Labs from $26 to $35 while maintaining an "equal weight" rating, a target that the report says implies roughly a 3.2% downside from the stock's recent mid‑day price (~$36.15).
• Planet's latest quarter showed revenue of $86.82 million, up 41.1% year‑over‑year, but the company missed on EPS (loss of $0.48 vs. -$0.05 expected) and reported a deeply negative net margin (~80%), highlighting strong top‑line growth alongside continued unprofitability.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $27.25, based on six Buys, four Holds and one Sell.

Planet Labs PBC (NYSE:PL - Get Free Report) had its target price increased by Morgan Stanley from $26.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential downside of 3.18% from the stock's current price.

Several other equities analysts have also issued reports on the company. Citigroup boosted their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, January 13th. Cantor Fitzgerald increased their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. The Goldman Sachs Group restated a "neutral" rating and issued a $16.40 price target on shares of Planet Labs PBC in a report on Tuesday, January 20th. Northland Securities set a $28.00 price objective on Planet Labs PBC in a report on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Planet Labs PBC from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, December 11th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.25.

Planet Labs PBC Trading Up 13.6%

PL traded up $4.32 during mid-day trading on Wednesday, hitting $36.15. The stock had a trading volume of 18,209,697 shares, compared to its average volume of 13,575,994. The stock's fifty day simple moving average is $25.46 and its 200-day simple moving average is $18.37. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of -46.19 and a beta of 1.95. Planet Labs PBC has a 1-year low of $2.79 and a 1-year high of $37.05. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.43). The firm had revenue of $86.82 million during the quarter, compared to analyst estimates of $78.17 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. Planet Labs PBC's revenue for the quarter was up 41.1% on a year-over-year basis. As a group, research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kristen Robinson sold 47,835 shares of the firm's stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total value of $1,289,631.60. Following the completion of the transaction, the director directly owned 222,897 shares of the company's stock, valued at approximately $6,009,303.12. This trade represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijaya Gadde sold 20,000 shares of the company's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the sale, the director directly owned 250,169 shares in the company, valued at $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 292,348 shares of company stock worth $7,323,958. 17.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at approximately $8,457,000. Osbon Capital Management LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $554,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Planet Labs PBC by 5,433.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 61,860 shares of the company's stock valued at $1,220,000 after acquiring an additional 60,742 shares in the last quarter. Virtue Capital Management LLC raised its stake in Planet Labs PBC by 1,837.6% in the 4th quarter. Virtue Capital Management LLC now owns 83,296 shares of the company's stock worth $1,700,000 after purchasing an additional 78,997 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Planet Labs PBC by 9.5% in the 4th quarter. Mackenzie Financial Corp now owns 14,631 shares of the company's stock valued at $288,000 after purchasing an additional 1,267 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Company Profile

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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