Planet Labs PBC (NYSE:PL) Trading 5.7% Higher - Time to Buy?

Key Points

• Planet Labs PBC's share price increased by 5.7%, reaching $7.19, with a trading volume 44% lower than its average.
• Analysts have set new price targets for Planet Labs PBC, with Cantor Fitzgerald raising their target to $8.50 and Needham & Company maintaining a target of $8.00, indicating strong investor confidence.
• The company reported a revenue of $66.27 million for the last quarter, surpassing analysts' expectations, while maintaining a negative margin of 42.58%.

Planet Labs PBC (NYSE:PL - Get Free Report)'s share price was up 5.7% during trading on Monday . The stock traded as high as $7.19 and last traded at $7.19. Approximately 3,755,831 shares were traded during trading, a decline of 44% from the average daily volume of 6,677,156 shares. The stock had previously closed at $6.80.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PL shares. Citigroup boosted their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group started coverage on Planet Labs PBC in a report on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $6.86.

Planet Labs PBC Stock Performance

The business has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $4.92. The firm has a market cap of $2.13 billion, a P/E ratio of -19.54 and a beta of 1.80.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $66.27 million during the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Planet Labs PBC by 2,119.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company's stock worth $653,000 after acquiring an additional 102,277 shares in the last quarter. Oxford Asset Management LLP bought a new position in Planet Labs PBC during the 2nd quarter valued at approximately $70,000. HRT Financial LP bought a new position in Planet Labs PBC during the 2nd quarter valued at approximately $3,305,000. BNP Paribas Financial Markets increased its position in Planet Labs PBC by 45.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,150 shares of the company's stock valued at $141,000 after buying an additional 7,198 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Planet Labs PBC during the 2nd quarter valued at approximately $1,323,000. Institutional investors own 41.71% of the company's stock.

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.