Planet Labs PBC (NYSE:PL) Shares Down 8.7% - Here's What Happened

Key Points

• Shares fell 8.7% on Thursday to about $32.31 with trading volume up roughly 5%, likely driven by short-term profit-taking after a recent rally.
• Planet is accelerating European manufacturing—hiring for a new Berlin satellite facility—to scale production and help convert backlog, a tangible operational growth catalyst.
• Mixed analyst and financial picture: revenue rose 41% YoY but the company remains unprofitable (Q1 EPS -$0.48 vs. -$0.05 expected) and highly leveraged; analysts are split (consensus "Hold", $27.25 target) despite some firms raising targets to $35–$40.

Planet Labs PBC (NYSE:PL - Get Free Report) shares dropped 8.7% during trading on Thursday . The company traded as low as $32.12 and last traded at $32.3060. Approximately 14,431,801 shares traded hands during trading, an increase of 5% from the average daily volume of 13,714,725 shares. The stock had previously closed at $35.37.

Key Stories Impacting Planet Labs PBC

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

• Positive Sentiment: Management is accelerating European manufacturing: Planet is recruiting to staff a new Berlin satellite manufacturing facility, a practical step toward scaling production and supporting backlog conversion. This operational progress is a clear growth catalyst. Planet Labs PBC Accelerates European Expansion
• Positive Sentiment: Analyst action: Morgan Stanley raised its price target to $35 (maintaining an Equal Weight rating), which helped validate the rally and likely encouraged more institutional interest. That upgrade provided a near-term valuation anchor for some buyers. Morgan Stanley Raises Planet Labs Target to $35
• Positive Sentiment: Headline momentum pushed the shares to new highs this week as investors bet on international expansion and sector tailwinds (space-stock rotation and potential broader aerospace IPOs). That media/investor attention can sustain higher trading volumes and institutional flows. Planet Labs Rockets to All-Time High on Europe Expansion
• Neutral Sentiment: Sector/macro context: Market coverage highlights Planet’s improving fundamentals (record revenue growth, guidance, and adjusted EBITDA progress), which supports a multi-quarter growth story but doesn’t eliminate execution risks. Is 2026 the Year of Space Stocks?
• Negative Sentiment: Valuation and execution risks are real: the stock had a fast run-up, and Planet still reports negative earnings and high leverage. After hitting headlines and analyst attention, short-term profit-taking and rotation into other names can drive pullbacks — likely the main reason for today’s decline.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $16.40 target price on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Northland Securities set a $28.00 target price on Planet Labs PBC in a report on Tuesday, January 13th. Craig Hallum reissued a "buy" rating and issued a $30.00 price target on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.25.

Planet Labs PBC Stock Performance

The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65. The company has a 50 day moving average price of $25.63 and a 200 day moving average price of $18.49. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of -41.42 and a beta of 1.95.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.43). The firm had revenue of $86.82 million for the quarter, compared to analyst estimates of $78.17 million. Planet Labs PBC had a negative return on equity of 69.61% and a negative net margin of 80.22%.The firm's quarterly revenue was up 41.1% on a year-over-year basis. Equities research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Planet Labs PBC

In related news, Director Vijaya Gadde sold 20,000 shares of Planet Labs PBC stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total value of $535,400.00. Following the completion of the sale, the director owned 250,169 shares of the company's stock, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 73,782 shares of the business's stock in a transaction on Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the sale, the insider owned 1,164,729 shares of the company's stock, valued at $22,537,506.15. This trade represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 292,348 shares of company stock worth $7,323,958. Insiders own 17.53% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wellington Shields & Co. LLC increased its position in shares of Planet Labs PBC by 2.8% during the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company's stock worth $311,000 after acquiring an additional 435 shares in the last quarter. Xponance LLC lifted its position in Planet Labs PBC by 3.1% in the 4th quarter. Xponance LLC now owns 18,656 shares of the company's stock valued at $368,000 after acquiring an additional 555 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Planet Labs PBC by 5.4% in the 4th quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company's stock valued at $251,000 after acquiring an additional 657 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Planet Labs PBC by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company's stock valued at $653,000 after purchasing an additional 690 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock worth $31,000 after purchasing an additional 745 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

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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