Planet Labs PBC (NYSE:PL) Given New $17.00 Price Target at Wedbush

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

Several other equities analysts also recently issued reports on PL. Wall Street Zen raised shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Needham & Company LLC increased their price objective on Planet Labs PBC from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. JMP Securities lifted their target price on Planet Labs PBC from $8.00 to $11.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 9th. The Goldman Sachs Group began coverage on Planet Labs PBC in a research report on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target on the stock. Finally, Citigroup restated an “outperform” rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.56.

Planet Labs PBC Trading Up 3.0%

Shares of PL stock opened at $15.29 on Thursday. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of -50.96 and a beta of 1.99. The business’s 50-day moving average price is $8.51 and its 200-day moving average price is $5.93. Planet Labs PBC has a 12 month low of $2.06 and a 12 month high of $15.50.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data 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 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%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, sell-side analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Planet Labs PBC by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company’s stock valued at $54,802,000 after purchasing an additional 261,171 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Planet Labs PBC by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after buying an additional 20,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after buying an additional 1,743,474 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 worth $6,274,000 after buying an additional 653,173 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Planet Labs PBC by 10,305.7% during the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock worth $9,206,000 after buying an additional 1,494,744 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

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.