Planet Labs PBC (NYSE:PL) Hits New 52-Week High - Time to Buy?

Key Points

• Planet Labs PBC shares have reached a new 52-week high of $12.68, closing at $12.48 with significant trading volume of 784,097 shares.
• Wall Street analysts are optimistic, with nine analysts rating the stock as a "Buy" and target prices being raised by firms like Needham & Company and JMP Securities.
• Despite a positive revenue growth of 20.1% year-over-year, the company reported a loss of ($0.07) earnings per share for the quarter, missing estimates by ($0.03).

Planet Labs PBC (NYSE:PL - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $12.68 and last traded at $12.48, with a volume of 784097 shares trading hands. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PL shares. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Citigroup restated an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. The Goldman Sachs Group assumed coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective for the company. Finally, JMP Securities upped their price objective on Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a research note on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $7.56.

Planet Labs PBC Trading Up 4.3%

The stock has a market capitalization of $3.92 billion, a PE ratio of -42.41 and a beta of 1.81. The firm has a 50 day moving average price of $7.80 and a 200 day moving average price of $5.60.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $73.39 million during 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%.The company'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) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Planet Labs PBC by 54.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock worth $6,274,000 after buying an additional 653,173 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Planet Labs PBC in the 1st quarter worth $115,000. Rhumbline Advisers boosted its holdings in Planet Labs PBC by 2.3% in the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock worth $994,000 after buying an additional 6,692 shares during the period. Principal Financial Group Inc. boosted its holdings in Planet Labs PBC by 1,316.8% in the 1st quarter. Principal Financial Group Inc. now owns 167,362 shares of the company's stock worth $566,000 after buying an additional 155,549 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Planet Labs PBC by 220.5% during the 1st quarter. Vontobel Holding Ltd. now owns 45,143 shares of the company's stock valued at $153,000 after purchasing an additional 31,057 shares during the last quarter. 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.

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