Planet Labs PBC (NYSE:PL) Sets New 52-Week High - What's Next?

Key Points

• Planet Labs PBC shares hit a new 52-week high of $15.89 during trading, with a closing price of $15.75 and a volume of 934,866 shares.
• Multiple analysts have set new price targets for Planet Labs, with Wedbush increasing its target to $17.00 and JMP Securities raising it to $11.00.
• Institutional investors have significantly increased their stakes, with Marshall Wace LLP boosting its position by over 10,000% in the second quarter.

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.89 and last traded at $15.75, with a volume of 934866 shares trading hands. The stock had previously closed at $15.31.

Analysts Set New Price Targets

PL has been the subject of a number of analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. JMP Securities increased 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. Wedbush lifted their price objective on shares of Planet Labs PBC from $11.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday. Needham & Company LLC raised their target price on Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $8.56.

Planet Labs PBC Trading Up 1.5%

The business has a 50-day moving average of $8.51 and a two-hundred day moving average of $5.94. The firm has a market cap of $4.78 billion, a P/E ratio of -52.12 and a beta of 1.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The firm had revenue of $73.39 million for the quarter, compared to analyst estimates of $65.88 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The business's revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company's stock worth $14,964,000 after acquiring an additional 1,743,474 shares during the period. Marshall Wace LLP lifted its position in shares of 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 worth $9,206,000 after purchasing an additional 1,494,744 shares during the period. Jump Financial LLC acquired a new position in shares of Planet Labs PBC in the 2nd quarter worth approximately $7,723,000. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 1,116,055 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Planet Labs PBC by 415.4% during the second quarter. Qube Research & Technologies Ltd now owns 1,326,337 shares of the company's stock worth $8,091,000 after buying an additional 1,068,978 shares during the period. Institutional investors and hedge funds 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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