Planet Labs PBC (NYSE:PL) Price Target Raised to $17.00

Planet Labs PBC (NYSE:PL) had its price objective increased by Wedbush from $11.00 to $17.00 in a report issued on Thursday, Marketbeat reports. The firm currently has an outperform rating on the stock.

PL has been the subject of a number of other research reports. Wall Street Zen raised Planet Labs PBC from a “sell” rating to a “hold” rating in a report on Friday, June 6th. The Goldman Sachs Group assumed coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They issued a “neutral” rating and a $4.60 price objective for the company. JMP Securities boosted 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. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and an average price target of $8.56.

Planet Labs PBC Stock Up 3.0%

Planet Labs PBC stock opened at $15.29 on Thursday. The company’s 50-day moving average price is $8.51 and its two-hundred day moving average price is $5.93. The stock has a market cap of $4.71 billion, a P/E ratio of -50.96 and a beta of 1.99. Planet Labs PBC has a twelve month low of $2.06 and a twelve month high of $15.50.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $73.39 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

Several large investors have recently made changes to their positions in PL. Teacher Retirement System of Texas raised its stake in Planet Labs PBC by 5.9% during the second quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company’s stock worth $195,000 after acquiring an additional 1,782 shares in the last quarter. Choreo LLC grew its holdings in shares of Planet Labs PBC by 19.7% during the 2nd quarter. Choreo LLC now owns 13,072 shares of the company’s stock valued at $80,000 after purchasing an additional 2,148 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Planet Labs PBC by 45.1% during 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. Mackenzie Financial Corp lifted its stake in Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock valued at $45,000 after purchasing an additional 3,245 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Planet Labs PBC by 3.0% in the second quarter. New York State Common Retirement Fund now owns 139,296 shares of the company’s stock valued at $850,000 after buying an additional 3,993 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.