Planet Labs PBC (NYSE:PL) Upgraded at New Street Research

New Street Research upgraded shares of Planet Labs PBC (NYSE:PL) from a sell rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the company. Northland Securities set a $50.00 price target on Planet Labs PBC in a research note on Friday, June 5th. Needham & Company LLC reduced their price objective on Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. Wedbush assumed coverage on Planet Labs PBC in a report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective for the company. Craig Hallum increased their target price on Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Berenberg Bank began coverage on shares of Planet Labs PBC in a research report on Wednesday. They issued a “buy” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC presently has a consensus rating of “Hold” and an average price target of $31.72.

Planet Labs PBC Stock Performance

PL opened at $18.12 on Friday. The company has a fifty day moving average price of $23.66 and a two-hundred day moving average price of $30.09. Planet Labs PBC has a 1-year low of $6.26 and a 1-year high of $51.76. The company has a market cap of $6.46 billion, a P/E ratio of -16.47 and a beta of 2.10. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company 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 93.11%. The business’s revenue was up 58.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) EPS. Analysts predict that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert Schingler sold 25,000 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total transaction of $648,000.00. Following the transaction, the insider directly owned 225,171 shares in the company, valued at approximately $5,836,432.32. This trade represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashley Johnson sold 75,035 shares of Planet Labs PBC stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the transaction, the chief financial officer directly owned 1,132,122 shares in the company, valued at $24,997,253.76. This represents a 6.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 171,122 shares of company stock worth $4,148,906. 16.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds have recently modified their holdings of PL. Calamos Advisors LLC bought a new position in shares of Planet Labs PBC in the first quarter valued at approximately $2,973,000. Principal Financial Group Inc. lifted its holdings in Planet Labs PBC by 103.4% during the first quarter. Principal Financial Group Inc. now owns 565,537 shares of the company’s stock worth $15,807,000 after acquiring an additional 287,544 shares during the period. Quantinno Capital Management LP lifted its holdings in Planet Labs PBC by 574.7% during the first quarter. Quantinno Capital Management LP now owns 145,751 shares of the company’s stock worth $4,074,000 after acquiring an additional 124,150 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Planet Labs PBC in the first quarter worth $5,472,000. Finally, Renaissance Technologies LLC boosted its position in Planet Labs PBC by 36.5% in the first quarter. Renaissance Technologies LLC now owns 1,021,180 shares of the company’s stock worth $28,542,000 after purchasing an additional 273,300 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC News Summary

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.

Planet Labs PBC Company Profile

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.