Planet Labs PBC’s (PL) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Planet Labs PBC (NYSE:PL) in a report released on Tuesday morning, MarketBeat.com reports. Cantor Fitzgerald currently has a $8.50 price target on the stock, up from their previous price target of $6.30. Cantor Fitzgerald also issued estimates for Planet Labs PBC’s FY2026 earnings at ($0.34) EPS.

Other research analysts have also issued reports about the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Wedbush increased their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. Citigroup lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.60.

Planet Labs PBC Price Performance

NYSE PL opened at $6.05 on Tuesday. The stock’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $4.30. Planet Labs PBC has a one year low of $1.73 and a one year high of $6.71. The firm has a market cap of $1.83 billion, a PE ratio of -16.79 and a beta of 1.61.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $66.27 million for the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. As a group, equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after purchasing an additional 6,072 shares during the period. Iron Gate Global Advisors LLC bought a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $36,000. HighTower Advisors LLC acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $37,000. Forum Financial Management LP acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $39,000. Finally, Wellington Shields & Co. LLC bought a new stake in Planet Labs PBC in the 1st quarter valued at $39,000. Institutional investors own 41.71% of the company’s stock.

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.