Planet Labs PBC (NYSE:PL) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald has increased its price target for Planet Labs PBC from $8.50 to $20.00, suggesting a potential upside of 53.78% from its current price.
• Despite a recent stock decline of 1.7%, analysts maintain a generally positive outlook, with nine rating it as "Buy" and an average price target of $9.71.
• Planet Labs PBC reported quarterly revenue of $73.39 million, exceeding expectations, though it missed on earnings per share (EPS) estimates, reporting ($0.07) vs. the expected ($0.04).

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective upped by investment analysts at Cantor Fitzgerald from $8.50 to $20.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 53.78% from the company's current price.

A number of other equities analysts have also commented on PL. The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They set a "neutral" rating and a $4.60 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research report 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. Finally, Needham & Company LLC lifted 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. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.71.

Planet Labs PBC Stock Down 1.7%

Shares of PL traded down $0.22 during trading hours on Friday, hitting $13.01. The company had a trading volume of 3,673,766 shares, compared to its average volume of 8,419,848. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -43.29 and a beta of 1.99. The business has a fifty day moving average of $10.08 and a 200-day moving average of $6.61. Planet Labs PBC has a 12 month low of $2.18 and a 12 month high of $16.78.

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 (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Transactions at Planet Labs PBC

In related news, insider Robert H. Schingler sold 81,656 shares of the firm's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider directly owned 1,288,843 shares of the company's stock, valued at $19,977,066.50. This trade represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Planet Labs PBC by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company's stock valued at $54,802,000 after purchasing an additional 261,171 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Planet Labs PBC by 0.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company's stock worth $47,704,000 after purchasing an additional 20,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Planet Labs PBC by 245.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company's stock valued at $14,964,000 after purchasing an additional 1,743,474 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock valued at $6,274,000 after purchasing an additional 653,173 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Planet Labs PBC by 10,305.7% during the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company's stock valued at $9,206,000 after purchasing an additional 1,494,744 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.