Planet Labs PBC (NYSE:PL) Given New $12.00 Price Target at Needham & Company LLC

Planet Labs PBC (NYSE:PL) had its price objective increased by Needham & Company LLC from $8.00 to $12.00 in a research note published on Tuesday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also recently issued reports on PL. 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 research note on Tuesday, June 24th. Wall Street Zen upgraded Planet Labs PBC from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. JMP Securities increased their price objective on Planet Labs PBC from $6.50 to $8.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target on the stock. Finally, Citigroup raised their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.56.

Planet Labs PBC Trading Down 6.6%

Shares of NYSE PL opened at $9.02 on Tuesday. The stock has a market cap of $2.74 billion, a P/E ratio of -30.07 and a beta of 1.81. Planet Labs PBC has a 12-month low of $1.79 and a 12-month high of $9.71. The business’s fifty day simple moving average is $6.73 and its 200-day simple moving average is $5.00.

Planet Labs PBC (NYSE:PL) last announced 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 during the quarter, compared to analyst estimates of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.09%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($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 forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in shares of Planet Labs PBC by 64.3% during the second quarter. Osaic Holdings Inc. now owns 15,588 shares of the company’s stock worth $95,000 after purchasing an additional 6,101 shares in the last quarter. American Trust acquired a new stake in shares of Planet Labs PBC during the second quarter worth about $103,000. Tower Research Capital LLC TRC increased its position in shares of Planet Labs PBC by 2,119.3% during the second quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company’s stock worth $653,000 after purchasing an additional 102,277 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Planet Labs PBC during the second quarter worth about $70,000. Finally, HRT Financial LP acquired a new stake in shares of Planet Labs PBC during the second quarter worth about $3,305,000. Institutional investors and hedge funds 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.