Planet Labs PBC (NYSE:PL) Reaches New 12-Month High - Should You Buy?

Key Points

• Planet Labs PBC reached a new **12-month high** of $10.11 and closed at $9.90, with trading volume of **1,183,195 shares**.
• Several analysts have raised their price targets for Planet Labs PBC, with JMP Securities setting a new target of **$11.00** and Needham & Company at **$12.00**, highlighting a strong market performance expectation.
• The company's recent earnings report showed a revenue increase of **20.1% year-over-year**, although it missed EPS estimates, reporting **($0.07)** compared to the anticipated **($0.04)**.

Planet Labs PBC (NYSE:PL - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $10.11 and last traded at $9.90, with a volume of 1183195 shares traded. The stock had previously closed at $9.78.

Wall Street Analyst Weigh In

PL has been the topic of a number of recent analyst reports. JMP Securities lifted 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 report on Tuesday, September 9th. Needham & Company LLC raised their price objective on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They set a "neutral" rating and a $4.60 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Planet Labs PBC currently has an average rating of "Moderate Buy" and an average price target of $7.56.

Planet Labs PBC Stock Performance

The firm has a market cap of $3.01 billion, a P/E ratio of -32.58 and a beta of 1.81. The firm's fifty day moving average is $6.90 and its 200 day moving average is $5.11.

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 analysts' consensus estimates of ($0.04) by ($0.03). The business had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The business's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PL. Connor Clark & Lunn Investment Management Ltd. increased its position in Planet Labs PBC by 245.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company's stock valued at $14,964,000 after acquiring an additional 1,743,474 shares during the period. Marshall Wace LLP increased its position in Planet Labs PBC by 10,305.7% in the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company's stock valued at $9,206,000 after acquiring an additional 1,494,744 shares during the period. Jump Financial LLC acquired a new position in Planet Labs PBC in the 2nd quarter valued at approximately $7,723,000. Bank of America Corp DE increased its position in Planet Labs PBC by 477.9% in the 2nd quarter. Bank of America Corp DE now owns 1,349,603 shares of the company's stock valued at $8,233,000 after acquiring an additional 1,116,055 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Planet Labs PBC by 415.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,326,337 shares of the company's stock valued at $8,091,000 after acquiring an additional 1,068,978 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

About Planet Labs PBC

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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