Planet Labs PBC's (PL) "Market Perform" Rating Reiterated at JMP Securities

Key Points

• Planet Labs PBC's stock has been given a "market perform" rating by JMP Securities, with several other brokerages providing mixed ratings, including an "outperform" from Citigroup and a "sell" from Weiss Ratings.
• Despite reporting a miss on earnings per share for the last quarter, Planet Labs PBC posted a year-over-year revenue increase of 20.1%, with revenues reaching $73.39 million.
• Hedge funds have significantly increased their holdings in Planet Labs PBC, with some firms raising their positions by as much as 10,305.7% during the second quarter.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock had its "market perform" rating restated by JMP Securities in a report issued on Tuesday,Benzinga reports.

Several other brokerages have also recently weighed in on PL. Citigroup restated an "outperform" rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Wedbush raised their price objective on Planet Labs PBC from $11.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Planet Labs PBC in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 target price for the company. Finally, Cantor Fitzgerald raised their target price on shares of Planet Labs PBC from $8.50 to $20.00 and gave the company an "overweight" rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.26.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $13.56 on Tuesday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -45.20 and a beta of 1.99. The business has a 50-day moving average of $10.36 and a 200-day moving average of $6.80. Planet Labs PBC has a fifty-two week low of $2.18 and a fifty-two week high of $16.78.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced 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 company had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. Planet Labs PBC's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, sell-side analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Insider Activity at Planet Labs PBC

In related news, insider Robert H. Schingler sold 81,656 shares of Planet Labs PBC stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $15.50, for a total value of $1,265,668.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 17.53% of the company's stock.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Planet Labs PBC by 245.7% during the second 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 during the period. Marshall Wace LLP raised its holdings in shares of Planet Labs PBC by 10,305.7% during the second 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 during the period. Jump Financial LLC acquired a new position in shares of Planet Labs PBC during the second quarter valued at about $7,723,000. Bank of America Corp DE raised its holdings in shares of Planet Labs PBC by 477.9% during the second quarter. Bank of America Corp DE now owns 1,349,603 shares of the company's stock valued at $8,233,000 after purchasing an additional 1,116,055 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Planet Labs PBC by 415.4% during the second quarter. Qube Research & Technologies Ltd now owns 1,326,337 shares of the company's stock valued at $8,091,000 after purchasing an additional 1,068,978 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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