Planet Labs PBC (NYSE:PL) Hits New 12-Month High After Analyst Upgrade

Planet Labs PBC (NYSE:PL) shares reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $26.00 to $35.00. Morgan Stanley currently has an equal weight rating on the stock. Planet Labs PBC traded as high as $37.05 and last traded at $35.2330, with a volume of 24826103 shares trading hands. The stock had previously closed at $31.83.

Several other brokerages have also recently commented on PL. National Bank Financial set a $12.30 price target on shares of Planet Labs PBC in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Citigroup upped their target price on shares of Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, Needham & Company LLC increased their price target on Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Labs PBC has a consensus rating of “Hold” and a consensus price target of $27.25.

Insiders Place Their Bets

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total value of $4,071,244.31. Following the completion of the transaction, the chief financial officer directly owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert H. Schingler sold 73,782 shares of the stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 292,348 shares of company stock valued at $7,323,958 in the last three months. Insiders own 17.53% of the company’s stock.

More Planet Labs PBC News

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet is hiring to operationalize a new Berlin satellite manufacturing facility, marking a concrete step in its European expansion and capacity buildout that should support growth and supply reliability. Planet Labs PBC Accelerates European Expansion
• Positive Sentiment: Company commentary and press coverage highlight strong recent results: record quarterly revenue, a sizeable backlog and the first full-year adjusted EBITDA profitability — indicators of improving unit economics and higher revenue visibility. You’re Up 150% On Planet Labs, What To Do Now?
• Positive Sentiment: Broader space-sector momentum (and speculation around a potential SpaceX IPO) is drawing investor interest to space stocks like Planet Labs, boosting sentiment and fund flows into the group. Is 2026 the Year of Space Stocks?
• Positive Sentiment: Media coverage points out Planet’s strong YTD performance and leadership within industrials, underscoring momentum that can attract momentum-driven and institutional buyers. Planet Labs (PL) Stock Leads Industrial Sector
• Neutral Sentiment: Morgan Stanley raised its price target from $26 to $35 but kept an “equal weight” rating; the new target sits near the current market price, providing validation for recent gains but offering limited near-term upside from this particular call. Morgan Stanley Raises Planet Labs Target to $35

Institutional Trading of Planet Labs PBC

Several hedge funds have recently bought and sold shares of the stock. Wellington Shields & Co. LLC boosted its holdings in shares of Planet Labs PBC by 2.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after buying an additional 435 shares during the period. Xponance LLC raised its holdings in shares of Planet Labs PBC by 3.1% during the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock worth $368,000 after acquiring an additional 555 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Planet Labs PBC by 5.4% during the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after acquiring an additional 657 shares during the period. Pictet Asset Management Holding SA lifted its position in Planet Labs PBC by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company’s stock valued at $653,000 after acquiring an additional 690 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 745 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of -45.17 and a beta of 1.95. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The stock’s 50 day moving average is $25.63 and its two-hundred day moving average is $18.49.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.43). The firm had revenue of $86.82 million during the quarter, compared to analyst estimates of $78.17 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. Planet Labs PBC’s revenue for the quarter was up 41.1% on a year-over-year basis. Analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.