Planet Labs PBC (NYSE:PL) Trading Down 7.5% - What's Next?

Key Points

• Planet Labs PBC's stock price has fallen by 7.5%, trading at around $6.56, with a significant decline in trading volume.
• Research analysts have a mixed outlook with ratings including a "neutral" rating from Goldman Sachs and a "market outperform" upgrade from JMP Securities, leading to a consensus price target of $6.86.
• The company reported a quarterly revenue of $66.27 million, exceeding analyst expectations, and had earnings per share of ($0.04), beating estimates by $0.01.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock price traded down 7.5% during mid-day trading on Tuesday . The company traded as low as $6.52 and last traded at $6.56. 3,140,982 shares were traded during trading, a decline of 53% from the average session volume of 6,681,571 shares. The stock had previously closed at $7.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price objective for the company. JMP Securities upped their price target on Planet Labs PBC from $6.50 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald restated an "overweight" rating and issued a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. Finally, Citigroup upped their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of "Moderate Buy" and a consensus price target of $6.86.

Planet Labs PBC Trading Down 6.6%

The stock has a market capitalization of $2.01 billion, a P/E ratio of -18.40 and a beta of 1.81. The business has a 50-day moving average price of $6.54 and a 200 day moving average price of $4.92.

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

Institutional Trading of Planet Labs PBC

Several hedge funds and other institutional investors have recently bought and sold shares of PL. Mariner LLC raised its holdings in Planet Labs PBC by 67.3% during the 4th quarter. Mariner LLC now owns 65,767 shares of the company's stock valued at $266,000 after buying an additional 26,457 shares during the period. Dimensional Fund Advisors LP raised its holdings in Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock valued at $8,140,000 after buying an additional 1,013,234 shares during the period. MetLife Investment Management LLC raised its holdings in Planet Labs PBC by 22.7% during the 4th quarter. MetLife Investment Management LLC now owns 132,120 shares of the company's stock valued at $534,000 after buying an additional 24,419 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Planet Labs PBC by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 84,803 shares of the company's stock valued at $343,000 after buying an additional 13,414 shares during the period. Finally, Northern Trust Corp increased its stake in Planet Labs PBC by 8.0% in the fourth quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock worth $7,945,000 after purchasing an additional 145,123 shares during the period. Hedge funds and other institutional investors 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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