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

Key Points

• Planet Labs PBC reached a new **52-week high** with its share price hitting **$11.64**, up from a previous close of $11.11, and trading volume exceeding **1.36 million shares**.
• Recent analyst ratings have generally been positive, with JMP Securities and Needham & Company raising their price targets to **$11.00** and **$12.00** respectively, while the consensus price target is **$7.56**.
• In the latest quarterly report, Planet Labs PBC missed earnings expectations with **($0.07) EPS**, despite reporting **$73.39 million** in revenue, reflecting a **20.1% year-over-year** increase.

Planet Labs PBC (NYSE:PL - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $11.59 and last traded at $11.64, with a volume of 1368271 shares trading hands. The stock had previously closed at $11.11.

Analysts Set New Price Targets

Several research firms have recently weighed in on PL. JMP Securities lifted their price target on shares of Planet Labs PBC from $8.00 to $11.00 and gave the company a "market outperform" rating in a research note on Tuesday, September 9th. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. 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 for the company. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. Finally, Needham & Company LLC lifted their price target 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. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Planet Labs PBC has an average rating of "Moderate Buy" and a consensus price target of $7.56.

Planet Labs PBC Stock Up 6.1%

The company has a market cap of $3.63 billion, a P/E ratio of -39.29 and a beta of 1.81. The business's 50 day moving average is $7.36 and its 200 day moving average is $5.37.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. 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

A number of large investors have recently made changes to their positions in PL. BNP Paribas Financial Markets acquired a new position in shares of Planet Labs PBC during the fourth quarter worth $110,000. Bank of America Corp DE increased its position in shares of Planet Labs PBC by 55.2% during the fourth quarter. Bank of America Corp DE now owns 225,219 shares of the company's stock worth $910,000 after purchasing an additional 80,117 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at $46,000. Deutsche Bank AG grew its holdings in shares of Planet Labs PBC by 48.9% during the fourth quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after buying an additional 68,465 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Planet Labs PBC by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company's stock valued at $496,000 after buying an additional 5,785 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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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