Planet Labs PBC (NYSE:PL) Shares Gap Up on Analyst Upgrade

Key Points

• Planet Labs PBC shares gapped up from $13.77 to $14.36 after Wedbush increased their price target from $11.00 to $17.00 and maintained an outperform rating.
• In its latest earnings report, Planet Labs PBC reported revenue of $73.39 million, surpassing the consensus estimate, but reported a loss of ($0.07) earnings per share, missing expectations.
• A total of nine analysts have rated Planet Labs PBC with a Buy rating, while the company has an average rating of Moderate Buy and a consensus price target of $8.56.

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) gapped up before the market opened on Thursday after Wedbush raised their price target on the stock from $11.00 to $17.00. The stock had previously closed at $13.77, but opened at $14.36. Wedbush currently has an outperform rating on the stock. Planet Labs PBC shares last traded at $14.57, with a volume of 5,211,268 shares changing hands.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 target price on the stock. Citigroup restated an "outperform" rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, 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 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. According to data from MarketBeat, Planet Labs PBC has an average rating of "Moderate Buy" and a consensus price target of $8.56.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds have recently made changes to their positions in the company. Iron Gate Global Advisors LLC bought a new stake in Planet Labs PBC in the 1st quarter worth approximately $36,000. HighTower Advisors LLC bought a new stake in Planet Labs PBC in the first quarter worth $37,000. Forum Financial Management LP purchased a new stake in Planet Labs PBC during the first quarter valued at $39,000. Wellington Shields & Co. LLC bought a new position in Planet Labs PBC during the first quarter valued at $39,000. Finally, Mackenzie Financial Corp grew its stake in shares of Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock worth $45,000 after buying an additional 3,245 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Performance

The business's fifty day moving average price is $8.18 and its two-hundred day moving average price is $5.77. The stock has a market capitalization of $4.50 billion, a P/E ratio of -48.92 and a beta of 1.81.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $73.39 million for the quarter, compared to the consensus estimate 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 company's revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

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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