Planet Labs PBC (NYSE:PL) Sees Strong Trading Volume on Analyst Upgrade

Planet Labs PBC (NYSE:PL) shares saw strong trading volume on Wednesday after JMP Securities raised their price target on the stock from $8.00 to $11.00. JMP Securities currently has a market outperform rating on the stock. 9,260,636 shares changed hands during mid-day trading, an increase of 27% from the previous session’s volume of 7,299,225 shares.The stock last traded at $8.99 and had previously closed at $9.02.

A number of other analysts also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Citigroup upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded Planet Labs PBC from a “sell” rating to a “hold” rating in a report on Friday, June 6th. 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. Finally, The Goldman Sachs Group assumed coverage on Planet Labs PBC in a report on Monday, June 30th. They set a “neutral” rating and a $4.60 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.56.

Institutional Trading of Planet Labs PBC

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Planet Labs PBC during the 1st quarter worth $115,000. Rhumbline Advisers boosted its position in Planet Labs PBC by 2.3% in the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company’s stock valued at $994,000 after buying an additional 6,692 shares during the last quarter. Principal Financial Group Inc. boosted its position in Planet Labs PBC by 1,316.8% in the 1st quarter. Principal Financial Group Inc. now owns 167,362 shares of the company’s stock valued at $566,000 after buying an additional 155,549 shares during the last quarter. Deutsche Bank AG boosted its position in Planet Labs PBC by 48.9% in the 4th quarter. Deutsche Bank AG now owns 208,412 shares of the company’s stock valued at $842,000 after buying an additional 68,465 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Planet Labs PBC by 220.5% in the 1st quarter. Vontobel Holding Ltd. now owns 45,143 shares of the company’s stock valued at $153,000 after buying an additional 31,057 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Trading Down 0.8%

The business’s 50-day simple moving average is $6.79 and its two-hundred day simple moving average is $5.03. The company has a market capitalization of $2.71 billion, a PE ratio of -29.82 and a beta of 1.81.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $73.39 million during the quarter, compared to analysts’ expectations of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

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.