Wedbush Issues Positive Forecast for Planet Labs PBC (NYSE:PL) Stock Price

Planet Labs PBC (NYSE:PL) had its target price boosted by Wedbush from $11.00 to $17.00 in a report released on Thursday, MarketBeat reports. Wedbush currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Citigroup reissued an “outperform” rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. JMP Securities raised their price target 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. Needham & Company LLC raised their price target 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. Finally, The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target for the company. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.56.

Planet Labs PBC Stock Performance

NYSE:PL opened at $14.87 on Thursday. The stock has a market capitalization of $4.58 billion, a P/E ratio of -49.58 and a beta of 1.99. The company has a 50 day moving average price of $8.34 and a 200 day moving average price of $5.84. Planet Labs PBC has a fifty-two week low of $2.06 and a fifty-two week high of $15.11.

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). 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 for the quarter, compared to analysts’ expectations of $65.88 million. During the same period in the previous year, the business posted ($0.06) EPS. The business’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. Research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors have recently modified their holdings of the company. Iron Gate Global Advisors LLC purchased a new stake in shares of Planet Labs PBC during the 1st quarter worth $36,000. HighTower Advisors LLC acquired a new stake in Planet Labs PBC during the 1st quarter worth $37,000. Forum Financial Management LP acquired a new stake in Planet Labs PBC during the 1st quarter worth $39,000. Wellington Shields & Co. LLC acquired a new stake in Planet Labs PBC during the 1st quarter worth $39,000. Finally, Mackenzie Financial Corp raised its stake in Planet Labs PBC by 32.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock worth $45,000 after acquiring an additional 3,245 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.