Cantor Fitzgerald Reaffirms Overweight Rating for Planet Labs PBC (NYSE:PL)

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

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $3.50 target price (down previously 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. Citigroup raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Wedbush boosted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.60.

Planet Labs PBC Stock Up 11.5%

PL stock opened at $6.05 on Tuesday. The company’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $4.30. The firm has a market cap of $1.83 billion, a P/E ratio of -16.79 and a beta of 1.61. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71.

Planet Labs PBC (NYSE:PL) last released its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $66.27 million during the quarter, compared to analysts’ expectations of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. Equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Planet Labs PBC by 101.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock worth $8,140,000 after buying an additional 1,013,234 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Planet Labs PBC by 227.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after acquiring an additional 880,966 shares in the last quarter. Liontrust Investment Partners LLP lifted its stake in shares of Planet Labs PBC by 175.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock valued at $3,604,000 after purchasing an additional 678,486 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after purchasing an additional 653,173 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $2,568,000. 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.