Planet Labs PBC (NYSE:PL) Shares Up 8.3% - Time to Buy?

Key Points

• Planet Labs PBC's share price rose 8.3%, reaching $9.71, although trading volume was down by 69% compared to its average.
• Analysts show a favorable outlook with nine giving a Buy rating and an average price target of $7.56, up from various institutions' target increases this week.
• The company reported a revenue of $73.39 million for the last quarter, exceeding expectations, but missed earnings estimates with a loss of ($0.07) per share.

Planet Labs PBC (NYSE:PL - Get Free Report)'s share price was up 8.3% during trading on Thursday . The stock traded as high as $9.60 and last traded at $9.71. Approximately 2,302,562 shares changed hands during trading, a decline of 69% from the average daily volume of 7,415,026 shares. The stock had previously closed at $8.97.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PL shares. The Goldman Sachs Group started coverage on Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price target for the company. JMP Securities upped their price objective on Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a report on Tuesday. Needham & Company LLC upped their price objective on Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Finally, Wedbush upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.56.

Planet Labs PBC Stock Up 8.7%

The company has a market cap of $2.96 billion, a price-to-earnings ratio of -32.56 and a beta of 1.81. The company has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $5.03.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its earnings results 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 firm had revenue of $73.39 million during the quarter, compared to analyst estimates of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Trading of Planet Labs PBC

Large investors have recently made changes to their positions in the stock. Iron Gate Global Advisors LLC acquired a new stake in shares of Planet Labs PBC during the first quarter valued at $36,000. HighTower Advisors LLC acquired a new stake in shares of Planet Labs PBC during the first quarter valued at $37,000. Forum Financial Management LP acquired a new stake in shares of Planet Labs PBC during the first quarter valued at $39,000. Wellington Shields & Co. LLC acquired a new stake in shares of Planet Labs PBC during the first quarter valued at $39,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Planet Labs PBC by 32.1% during the first 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 last quarter. 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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