Planet Labs PBC (NYSE:PL) Announces Quarterly Earnings Results

Planet Labs PBC (NYSE:PL - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01, Zacks reports. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The company had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. Planet Labs PBC updated its Q2 2026 guidance to EPS and its FY 2026 guidance to EPS.

Planet Labs PBC Price Performance

Planet Labs PBC stock traded up $2.21 during trading on Thursday, reaching $6.20. 57,949,390 shares of the company were exchanged, compared to its average volume of 5,334,311. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71. The company has a market capitalization of $1.87 billion, a P/E ratio of -15.12 and a beta of 1.61. The stock's 50 day simple moving average is $3.51 and its two-hundred day simple moving average is $4.12.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PL. AQR Capital Management LLC grew its stake in shares of Planet Labs PBC by 671.1% in the first quarter. AQR Capital Management LLC now owns 92,693 shares of the company's stock valued at $313,000 after buying an additional 80,672 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Planet Labs PBC during the 1st quarter worth $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Planet Labs PBC by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company's stock worth $442,000 after buying an additional 8,143 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of 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 valued at $6,274,000 after acquiring an additional 653,173 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PL shares. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Thursday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Wedbush lifted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday. Benchmark increased their price target on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.18.

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.