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

Planet Labs PBC (NYSE:PL)’s share price gapped up prior to trading on Monday after Needham & Company LLC raised their price target on the stock from $12.00 to $16.00. The stock had previously closed at $13.11, but opened at $14.02. Needham & Company LLC currently has a buy rating on the stock. Planet Labs PBC shares last traded at $13.61, with a volume of 2,017,992 shares.

Several other equities analysts also recently issued reports on PL. Citigroup restated an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Cantor Fitzgerald upped their price objective on shares of Planet Labs PBC from $8.50 to $20.00 and gave the company an “overweight” rating in a report on Friday. JMP Securities upped their price objective on shares of Planet Labs PBC from $8.00 to $11.00 and gave the company a “market outperform” rating in a report on Tuesday, September 9th. Wedbush upped their price objective on shares of Planet Labs PBC from $11.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They set a “neutral” rating and a $4.60 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.11.

Insiders Place Their Bets

In related news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $15.50, for a total value of $1,265,668.00. Following the transaction, the insider owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. This represents a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its position in Planet Labs PBC by 129.9% in the 3rd quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after purchasing an additional 5,241 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Planet Labs PBC by 45.1% in the 2nd 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 in the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth approximately $130,000. Tableaux LLC purchased a new stake in Planet Labs PBC in the 2nd quarter worth approximately $61,000. Finally, May Hill Capital LLC purchased a new stake in Planet Labs PBC in the 2nd quarter worth approximately $62,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Trading Up 3.4%

The company has a 50-day simple moving average of $10.36 and a 200 day simple moving average of $6.80. The firm has a market cap of $4.18 billion, a PE ratio of -45.20 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $73.39 million for the quarter, compared to analysts’ expectations of $65.88 million. During the same quarter last year, the business earned ($0.06) EPS. The company’s quarterly revenue 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. On average, equities analysts expect that Planet Labs PBC will post -0.37 earnings per share 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.