Planet Labs PBC (NYSE:PL) Price Target Raised to $12.00

Planet Labs PBC (NYSE:PL) had its price objective lifted by Needham & Company LLC from $8.00 to $12.00 in a report released on Tuesday morning, Marketbeat reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush upped their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. The Goldman Sachs Group began coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They issued a “neutral” rating and a $4.60 price objective for the company. JMP Securities upped their price target on shares of Planet Labs PBC from $6.50 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, July 22nd. Finally, Citigroup upped their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, June 6th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Moderate Buy” and an average target price of $7.56.

Planet Labs PBC Trading Up 7.7%

Shares of NYSE PL opened at $9.66 on Tuesday. The stock has a 50 day simple moving average of $6.84 and a 200-day simple moving average of $5.07. The company has a market cap of $2.93 billion, a PE ratio of -32.20 and a beta of 1.81. Planet Labs PBC has a 12-month low of $1.92 and a 12-month high of $10.08.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. Planet Labs PBC’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. boosted its position in shares of Planet Labs PBC by 45.1% during the second 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. Tableaux LLC bought a new position in shares of Planet Labs PBC during the second quarter worth $61,000. May Hill Capital LLC bought a new position in shares of Planet Labs PBC during the second quarter worth $62,000. Iron Gate Global Advisors LLC bought a new position in shares of Planet Labs PBC during the first quarter worth $36,000. Finally, HighTower Advisors LLC bought a new position in shares of Planet Labs PBC during the first quarter worth $37,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Company Profile

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.