Planet Labs PBC (NYSE:PL) Shares Down 4.7% – Here’s Why

Planet Labs PBC (NYSE:PL) shares fell 4.7% during mid-day trading on Thursday . The stock traded as low as $19.65 and last traded at $19.0440. Approximately 2,206,580 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 11,870,719 shares. The stock had previously closed at $19.99.

Planet Labs PBC News Roundup

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

• Positive Sentiment: Planet posted record fiscal Q2 revenue of $116.1 million, up 58% year over year and well above the $104.5 million consensus estimate. Adjusted earnings of $0.02 per share also exceeded expectations for a $0.02 loss. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Management raised fiscal 2027 guidance and highlighted a satellite-services pipeline exceeding $4 billion, along with accelerating investment in its Owl satellite initiative. These developments support the longer-term growth case. PL Q2 Earnings Call Highlights Satellite Services Expansion
• Positive Sentiment: Planet announced a seven-figure agreement with a European defense and intelligence customer, adding to investor interest in its government and defense business. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: Analyst sentiment improved: Berenberg upgraded Planet to “strong buy,” while Needham maintained a Buy rating despite reducing its price target to $40.
• Neutral Sentiment: New Street Research upgraded PL from Sell to Neutral with a $22 price target, and Citizens JMP reaffirmed its Market Perform rating, signaling improving but still cautious sentiment. New Street Upgrades Planet Labs PBC to Neutral From Sell
• Negative Sentiment: Fiscal Q3 revenue guidance of $101 million-$105 million was below the approximately $114 million analyst consensus. The weaker near-term outlook may be prompting selling despite the Q2 beat.

Analyst Ratings Changes

A number of research analysts have weighed in on PL shares. Wedbush began coverage on shares of Planet Labs PBC in a research report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price target on the stock. Northland Securities set a $40.00 price target on shares of Planet Labs PBC in a report on Friday. Craig Hallum set a $35.00 price target on shares of Planet Labs PBC in a research note on Friday. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Finally, New Street Research raised shares of Planet Labs PBC from a “sell” rating to a “neutral” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC has an average rating of “Hold” and an average target price of $31.72.

Planet Labs PBC Stock Down 1.3%

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 company has a market cap of $6.46 billion, a price-to-earnings ratio of -16.47 and a beta of 2.10. The firm’s 50 day simple moving average is $23.66 and its 200 day simple moving average is $30.03.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 109.97%. The company’s revenue was up 58.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. Sell-side analysts anticipate that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Insider Transactions at Planet Labs PBC

In other news, insider Robert Schingler sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $25.92, for a total value of $648,000.00. Following the completion of the transaction, the insider directly owned 225,171 shares in the company, valued at $5,836,432.32. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashley Johnson sold 75,035 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the transaction, the chief financial officer owned 1,132,122 shares in the company, valued at $24,997,253.76. This represents a 6.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 171,122 shares of company stock valued at $4,148,906. Company insiders own 16.42% of the company’s stock.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Capital Advisory LLC bought a new position in Planet Labs PBC during the first quarter valued at about $28,000. Western Wealth Management LLC bought a new stake in Planet Labs PBC in the first quarter worth about $28,000. Pittenger & Anderson Inc. raised its position in 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 acquiring an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Planet Labs PBC in the 1st quarter valued at about $41,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 745 shares during the last quarter. 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.