Planet Labs PBC (NYSE:PL) Shares Gap Up - Time to Buy?

Key Points

• Planet Labs PBC shares gapped up, opening at $16.55 after a previous close of $15.68, indicating investor interest.
• Analysts have given a consensus rating of "Moderate Buy" for Planet Labs PBC, with a target price averaging $8.56.
• The company's latest quarterly earnings report showed a revenue increase of 20.1% year-over-year, although it missed earnings estimates.

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $15.68, but opened at $16.55. Planet Labs PBC shares last traded at $15.98, with a volume of 3,079,709 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PL shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.50 target price (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Planet Labs PBC in a report on Saturday, September 27th. Needham & Company LLC increased their price target on Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. The Goldman Sachs Group began coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 price target for the company. Finally, JMP Securities increased their price target on 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. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.56.

Planet Labs PBC Trading Up 0.9%

The company has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $6.09. The stock has a market capitalization of $4.87 billion, a P/E ratio of -52.64 and a beta of 1.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted 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 business had revenue of $73.39 million during 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 business's revenue was up 20.1% on a year-over-year basis. During the same period last year, the business posted ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently added to or reduced their stakes in PL. Iron Gate Global Advisors LLC acquired a new position in Planet Labs PBC during the 1st quarter valued at about $36,000. HighTower Advisors LLC purchased a new position in shares of Planet Labs PBC in the 1st quarter worth approximately $37,000. Forum Financial Management LP bought a new stake in shares of Planet Labs PBC in the 1st quarter worth approximately $39,000. Wellington Shields & Co. LLC bought a new stake in shares of Planet Labs PBC in the 1st quarter worth approximately $39,000. Finally, Mackenzie Financial Corp raised its holdings in Planet Labs PBC by 32.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock valued at $45,000 after acquiring an additional 3,245 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

About Planet Labs PBC

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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