Planet Labs PBC (NYSE:PL) Trading 11.5% Higher – Still a Buy?

Planet Labs PBC (NYSE:PL)’s stock price traded up 11.5% during mid-day trading on Thursday . The stock traded as high as $34.32 and last traded at $34.2450. 15,985,863 shares were traded during trading, an increase of 19% from the average session volume of 13,399,908 shares. The stock had previously closed at $30.72.

Key Planet Labs PBC News

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs is benefiting from a broad rally in space-related stocks as investors rotate into the sector ahead of SpaceX’s highly anticipated IPO. Planet Labs Stock Skyrockets Ahead Of SpaceX’s Friday IPO
• Positive Sentiment: Recent commentary says Planet Labs’ strong results and fresh catalysts could offer upside as investors position for the second half of 2025. 3 Stocks With Fresh Catalysts to Watch Before July 4 (PL)
• Positive Sentiment: Planet Labs is using its AIRS initiative to connect satellite data with sustainability use cases, which could expand commercial opportunities over time. Planet Labs Uses AIRS Initiative To Link Satellite Data With Sustainability
• Neutral Sentiment: Analyst note activity included mixed estimate changes from Northland Securities, reflecting some near-term uncertainty but no major change in the longer-term story. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)
• Negative Sentiment: Northland Securities lowered some future EPS estimates for Planet Labs, which could weigh on sentiment by highlighting continued profitability challenges. Analyst estimate updates for Planet Labs PBC (PL)

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. New Street Research assumed coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $22.00 price objective on shares of Planet Labs PBC in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Planet Labs PBC has a consensus rating of “Hold” and a consensus price target of $35.28.

Planet Labs PBC Stock Down 8.8%

The stock has a 50-day simple moving average of $38.99 and a two-hundred day simple moving average of $28.35. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The firm has a market cap of $11.11 billion, a PE ratio of -27.34 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. The business’s revenue was up 42.1% compared to the same quarter last year. Analysts expect that Planet Labs PBC will post -0.81 earnings per share for the current year.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the sale, the insider owned 256,488 shares in the company, valued at $8,995,034.16. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the sale, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. The trade was a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. increased its holdings in shares of Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after buying an additional 395 shares during the period. Wellington Shields & Co. LLC increased its holdings in shares of Planet Labs PBC by 2.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock worth $311,000 after buying an additional 435 shares during the period. Xponance LLC increased its holdings in shares of Planet Labs PBC by 3.1% in the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock worth $368,000 after buying an additional 555 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Planet Labs PBC by 5.4% in the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after buying an additional 657 shares during the period. Finally, KBC Group NV increased its holdings in shares of Planet Labs PBC by 7.1% in the first quarter. KBC Group NV now owns 9,985 shares of the company’s stock worth $279,000 after buying an additional 661 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.