Planet Labs PBC’s (PL) “Market Perform” Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market perform rating on shares of Planet Labs PBC (NYSE:PL) in a research report released on Friday,Benzinga reports.

A number of other brokerages have also recently commented on PL. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a report on Monday, June 15th. Berenberg Bank initiated coverage on Planet Labs PBC in a research report on Wednesday. They issued a “buy” rating and a $25.00 price target for the company. Citigroup downgraded Planet Labs PBC from a “market perform” rating to a “hold” rating in a research note on Friday. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Wedbush initiated coverage on Planet Labs PBC in a research report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.72.

Planet Labs PBC Price Performance

Shares of PL stock opened at $18.12 on Friday. Planet Labs PBC has a 12 month low of $6.26 and a 12 month high of $51.76. The stock 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. The company has a 50 day simple moving average of $23.66 and a two-hundred day simple moving average of $30.09.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The business had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $104.53 million. During the same quarter last year, the company posted ($0.07) EPS. The company’s revenue was up 58.2% compared to the same quarter last year. On average, research analysts expect that Planet Labs PBC will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John W. Raymond sold 6,494 shares of the stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $26.16, for a total transaction of $169,883.04. Following the completion of the sale, the director owned 37,114 shares in the company, valued at approximately $970,902.24. This trade represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ashley F. Johnson sold 75,035 shares of the stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $1,656,772.80. Following the sale, the chief financial officer owned 1,132,122 shares of the company’s stock, valued at $24,997,253.76. This represents a 6.22% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 171,122 shares of company stock worth $4,148,906. Corporate insiders own 16.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of Planet Labs PBC by 3,265.0% during the second quarter. California State Teachers Retirement System now owns 9,622,277 shares of the company’s stock valued at $290,440,000 after buying an additional 9,336,325 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock worth $151,429,000 after buying an additional 5,851,758 shares in the last quarter. Invesco Ltd. boosted its position in shares of Planet Labs PBC by 265.6% during the third quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock worth $44,787,000 after acquiring an additional 2,506,595 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Planet Labs PBC by 257.5% during the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock worth $30,662,000 after acquiring an additional 1,701,535 shares during the last quarter. Finally, Tema ETFs LLC grew its stake in Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company’s stock valued at $52,709,000 after acquiring an additional 1,588,864 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

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.