Planet Labs PBC (NYSE:PL) Receives Outperform Rating from Wedbush

Key Points

• Wedbush reiterated an Outperform rating on Planet Labs PBC and set a $50 price target, implying about 40% upside from the prior close.
• Other analysts have also turned more positive recently, with several firms raising targets after earnings. However, the overall consensus remains Hold with an average price target of $31.69.
• Planet Labs reported quarterly revenue of $94.15 million, topping estimates and rising 42.1% year over year, while EPS matched expectations at -$0.03. The article also notes recent insider share sales and a stock decline of 18.2%.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They currently have a $50.00 price objective on the stock. Wedbush's price objective points to a potential upside of 40.41% from the company's previous close.

PL has been the topic of several other reports. Deutsche Bank Aktiengesellschaft set a $38.00 price target on shares of Planet Labs PBC and gave the company a "buy" rating in a research note on Friday, March 27th. Citigroup lifted their target price on Planet Labs PBC from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Needham & Company LLC boosted their target price on Planet Labs PBC from $40.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday. Cantor Fitzgerald upped their price target on Planet Labs PBC from $20.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, March 20th. Finally, Morgan Stanley lifted their price objective on Planet Labs PBC from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.69.

Planet Labs PBC Stock Down 18.2%

NYSE PL opened at $35.61 on Friday. The stock's 50 day simple moving average is $38.85 and its 200 day simple moving average is $27.60. Planet Labs PBC has a one year low of $4.90 and a one year high of $51.76. The firm has a market cap of $12.33 billion, a PE ratio of -46.01 and a beta of 1.99. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.00 million. Planet Labs PBC had a negative return on equity of 69.61% and a negative net margin of 80.22%.The company's revenue was up 42.1% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Labs PBC will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In related news, CFO Ashley F. Johnson sold 200,000 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the completion of the sale, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. This represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert H. Schingler sold 73,683 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the sale, the insider directly owned 256,488 shares in the company, valued at $8,995,034.16. The trade was a 22.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PL. Vanguard Group Inc. boosted its position in shares of Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company's stock worth $381,750,000 after buying an additional 806,818 shares during the period. Divisadero Street Capital Management LP acquired a new stake in Planet Labs PBC in the 3rd quarter valued at approximately $13,564,000. New York State Common Retirement Fund lifted its stake in Planet Labs PBC by 45.3% in the 3rd quarter. New York State Common Retirement Fund now owns 202,384 shares of the company's stock valued at $2,627,000 after acquiring an additional 63,088 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Planet Labs PBC by 74.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company's stock worth $25,988,000 after acquiring an additional 851,937 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $2,688,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet reported first-quarter revenue of $94.15 million, beating expectations and rising 42.1% year over year, while EPS of -$0.03 matched estimates. The company also raised guidance, with Q2 revenue outlook of $102 million-$107 million and FY2027 revenue guidance of $425 million-$441 million, suggesting continued top-line momentum. Article: Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company also announced an extended NGA partnership, including an 8-figure contract extension for maritime surveillance and a new award for crisis response monitoring, reinforcing demand for Planet’s government and defense business. Article: Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response Monitoring
• Neutral Sentiment: Needham raised its price target on Planet Labs to $53 from $40 and reiterated a buy rating, signaling improving analyst confidence after the earnings report. Article: Analyst price target increase
• Negative Sentiment: Sentiment was pressured by Planet’s filing for a large at-the-market stock offering program of up to $1.5 billion, which can raise capital but also increases dilution risk for existing shareholders. Article: Planet Labs Launches $1.5 Billion ATM Stock Program

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company's multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet's imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

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