Planet Labs PBC (NYSE:PL) Shares Gap Up After Analyst Upgrade

Planet Labs PBC (NYSE:PL)’s stock price gapped up prior to trading on Thursday after Wedbush raised their price target on the stock from $11.00 to $17.00. The stock had previously closed at $13.77, but opened at $14.36. Wedbush currently has an outperform rating on the stock. Planet Labs PBC shares last traded at $14.57, with a volume of 5,211,268 shares traded.

PL has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Needham & Company LLC increased their target price on Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Wall Street Zen raised Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. JMP Securities upped their price target on shares of Planet Labs PBC from $8.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 9th. Finally, Citigroup restated an “outperform” rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.56.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock worth $14,964,000 after buying an additional 1,743,474 shares during the last quarter. Marshall Wace LLP raised its position in Planet Labs PBC by 10,305.7% in the second quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock worth $9,206,000 after acquiring an additional 1,494,744 shares during the period. Jump Financial LLC purchased a new position in shares of Planet Labs PBC during the 2nd quarter worth $7,723,000. Bank of America Corp DE grew its position in shares of Planet Labs PBC by 477.9% during the 2nd quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock valued at $8,233,000 after acquiring an additional 1,116,055 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Planet Labs PBC by 415.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,326,337 shares of the company’s stock worth $8,091,000 after purchasing an additional 1,068,978 shares during the period. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

The company has a market capitalization of $4.58 billion, a P/E ratio of -49.58 and a beta of 1.99. The stock has a fifty day moving average of $8.34 and a 200 day moving average of $5.84.

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

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.