Planet Labs PBC (NYSE:PL) Sees Large Volume Increase on Analyst Upgrade

Planet Labs PBC (NYSE:PL) saw strong trading volume on Wednesday after JMP Securities raised their price target on the stock from $8.00 to $11.00. JMP Securities currently has a market outperform rating on the stock. 9,260,636 shares changed hands during trading, an increase of 27% from the previous session’s volume of 7,299,225 shares.The stock last traded at $8.99 and had previously closed at $9.02.

Other equities analysts have also recently issued reports about the company. Wall Street Zen raised Planet Labs PBC from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target on the stock. Citigroup upped their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Wedbush upped their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Finally, Needham & Company LLC upped their price target on Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in Planet Labs PBC by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 84,803 shares of the company’s stock worth $343,000 after purchasing an additional 13,414 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Planet Labs PBC by 8.0% during the 4th quarter. Northern Trust Corp now owns 1,966,504 shares of the company’s stock worth $7,945,000 after acquiring an additional 145,123 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $110,000. Bank of America Corp DE raised its position in Planet Labs PBC by 55.2% during the 4th quarter. Bank of America Corp DE now owns 225,219 shares of the company’s stock valued at $910,000 after purchasing an additional 80,117 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Planet Labs PBC in the 4th quarter valued at $46,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Performance

The company has a 50 day moving average of $6.84 and a two-hundred day moving average of $5.07. The stock has a market capitalization of $2.93 billion, a PE ratio of -32.20 and a beta of 1.81.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The business had revenue of $73.39 million during the quarter, compared to analyst estimates of $65.88 million. During the same period in the previous year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

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.