Planet Labs PBC (NYSE:PL) Sets New 52-Week High - Here's What Happened

Key Points

• Planet Labs PBC's stock reached a new 52-week high of $8.12 during trading, with a closing price of $7.75 and a trading volume of over 6.5 million shares.
• Multiple analysts have raised their price targets for the stock, with JMP Securities setting a new target of $8.00 and a consensus rating of "Moderate Buy" from research analysts.
• Despite reporting a quarterly loss with earnings per share of ($0.07), Planet Labs PBC saw a year-over-year revenue increase of 20.1% and has considerable interest from institutional investors, owning 41.71% of its stock.

Planet Labs PBC (NYSE:PL - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $8.12 and last traded at $7.75, with a volume of 6536844 shares trading hands. The stock had previously closed at $6.53.

Analysts Set New Price Targets

A number of brokerages recently commented on PL. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. JMP Securities raised their price target on shares of Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price target on the stock. Wedbush raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Planet Labs PBC presently has an average rating of "Moderate Buy" and a consensus target price of $7.56.

Planet Labs PBC Stock Performance

The firm has a market capitalization of $2.71 billion, a PE ratio of -29.82 and a beta of 1.81. The company's fifty day moving average price is $6.79 and its two-hundred day moving average price is $5.03.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results 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 34.46% and a negative return on equity of 20.25%. The business had revenue of $73.39 million during the quarter, compared to analysts' expectations of $65.88 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company's quarterly revenue was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Iron Gate Global Advisors LLC purchased a new position in Planet Labs PBC in the first quarter valued at approximately $36,000. HighTower Advisors LLC purchased a new position in Planet Labs PBC in the first quarter valued at approximately $37,000. Forum Financial Management LP purchased a new stake in shares of Planet Labs PBC during the first quarter valued at approximately $39,000. Wellington Shields & Co. LLC purchased a new stake in shares of Planet Labs PBC during the first quarter valued at approximately $39,000. Finally, Mackenzie Financial Corp raised its stake in shares of 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 period. Hedge funds and other institutional investors 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.