Planet Labs PBC (NYSE:PL) Shares Up 16.7% on Analyst Upgrade

Shares of Planet Labs PBC (NYSE:PL) rose 16.7% on Thursday after Citigroup raised their price target on the stock from $30.00 to $35.00. Citigroup currently has a buy rating on the stock. Planet Labs PBC traded as high as $36.04 and last traded at $35.8440. Approximately 25,273,427 shares traded hands during mid-day trading, an increase of 79% from the average daily volume of 14,114,966 shares. The stock had previously closed at $30.71.

A number of other research analysts have also issued reports on the stock. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Cantor Fitzgerald lifted their price target on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. National Bank Financial set a $12.30 target price on shares of Planet Labs PBC in a research report on Tuesday, December 16th. Finally, Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Planet Labs PBC has an average rating of “Hold” and a consensus price target of $27.70.

Insiders Place Their Bets

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of Planet Labs PBC 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 sale, the chief financial officer owned 1,956,101 shares in the company, valued at $52,834,288.01. The trade was a 7.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kristen Robinson sold 47,835 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the transaction, the director owned 222,897 shares in the company, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 218,566 shares of company stock valued at $5,896,276. Insiders own 17.53% of the company’s stock.

Key Headlines Impacting Planet Labs PBC

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

• Positive Sentiment: Sector rally: Planet Labs jumped alongside other space stocks as investor appetite for the space theme increased ahead of the anticipated SpaceX IPO, helping push PL higher. Planet Labs (PL) Climbs 9.9% as Space Stocks Fly
• Positive Sentiment: Margin improvement: Analysts note margin expansion driven by a shift to subscription revenue, greater automation and vertical integration — factors that improve unit economics and make future profitability more credible. Planet Labs Margins Expand on Revenue Mix Shift, Automation?
• Positive Sentiment: Analyst support: Citi raised its price target to $35 and kept a buy rating, giving an additional catalyst for momentum and institutional interest. Benzinga coverage of Citi price target raise
• Neutral Sentiment: Volume and headlines: Heavy intraday volume and media coverage are amplifying short-term moves; this flow-driven effect can sustain momentum but may reverse if news flow cools. What’s going on with Planet Labs stock Thursday?
• Negative Sentiment: Valuation concerns: Some analysts warn PL trades at a steep premium despite strong growth and backlog, raising the risk that expectations are already priced in. Planet Labs Trades at a Premium: Should You Still Buy the Stock?
• Negative Sentiment: Profitability and fundamentals: Recent quarterly results showed an EPS miss and continued negative margins/ROE; while revenue is growing, profitability remains a headwind that could limit sustained upside until structural improvement is confirmed.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of Planet Labs PBC by 671.1% during the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock valued at $313,000 after buying an additional 80,672 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Planet Labs PBC in the 1st quarter worth $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Planet Labs PBC by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock worth $442,000 after buying an additional 8,143 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after acquiring an additional 653,173 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in Planet Labs PBC during the second quarter valued at about $121,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

The stock has a market cap of $12.41 billion, a PE ratio of -45.95 and a beta of 1.83. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The stock has a 50-day simple moving average of $26.03 and a 200-day simple moving average of $19.32.

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

Planet Labs PBC Company Profile

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.