Weiss Ratings Reiterates Sell (D-) Rating for Planet Labs PBC (NYSE:PL)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Planet Labs PBC (NYSE: PL), indicating ongoing concerns about the company's performance.
• Despite the negative rating from Weiss, several other firms have issued more optimistic outlooks, with nine analysts rating the stock as a "Buy" and a consensus price target of $8.56.
• Planet Labs PBC reported quarterly earnings with a miss on EPS expectations, showing a revenue of $73.39 million, which exceeded analyst estimates.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on PL. The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective on the stock. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Wedbush boosted their target price on shares of Planet Labs PBC from $11.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. JMP Securities boosted their target price on shares of Planet Labs PBC from $8.00 to $11.00 and gave the company a "market outperform" rating in a research report on Tuesday, September 9th. Finally, Citigroup reissued an "outperform" rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Planet Labs PBC has a consensus rating of "Moderate Buy" and a consensus price target of $8.56.

Planet Labs PBC Price Performance

NYSE:PL opened at $15.62 on Wednesday. Planet Labs PBC has a one year low of $2.06 and a one year high of $16.78. The company has a market cap of $4.81 billion, a P/E ratio of -52.07 and a beta of 1.99. The firm's fifty day moving average price is $9.07 and its two-hundred day moving average price is $6.15.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The company had revenue of $73.39 million during the quarter, compared to analyst estimates of $65.88 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Planet Labs PBC's revenue for the quarter was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in Planet Labs PBC by 5.9% during the second quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company's stock worth $195,000 after purchasing an additional 1,782 shares during the period. Choreo LLC lifted its position in Planet Labs PBC by 19.7% during the second quarter. Choreo LLC now owns 13,072 shares of the company's stock worth $80,000 after purchasing an additional 2,148 shares during the period. SBI Securities Co. Ltd. lifted its position in Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company's stock worth $60,000 after purchasing an additional 3,068 shares during the period. Mackenzie Financial Corp lifted its position in Planet Labs PBC by 32.1% during the first quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock worth $45,000 after purchasing an additional 3,245 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Planet Labs PBC by 3.0% during the second quarter. New York State Common Retirement Fund now owns 139,296 shares of the company's stock worth $850,000 after purchasing an additional 3,993 shares during the period. 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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