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Planet Labs PBC (NYSE:PL – Get Free Report) had its price target increased by analysts at Wedbush from $11.00 to $17.00 in a report released on Thursday, Marketbeat.com reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 11.19% from the company’s current price.
Several other analysts also recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. The Goldman Sachs Group initiated coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target for the company. Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Finally, JMP Securities lifted their price objective on shares of Planet Labs PBC from $8.00 to $11.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.56.
View Our Latest Stock Analysis on PL
Planet Labs PBC Trading Up 3.0%
NYSE PL opened at $15.29 on Thursday. The company has a fifty day simple moving average of $8.51 and a 200 day simple moving average of $5.92. Planet Labs PBC has a 12-month low of $2.06 and a 12-month high of $15.50. The company has a market cap of $4.71 billion, a P/E ratio of -50.96 and a beta of 1.99.
Planet Labs PBC (NYSE:PL – Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. 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 business 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. Sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.
Institutional Investors Weigh In On Planet Labs PBC
Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its stake in shares of Planet Labs PBC by 45.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock worth $60,000 after purchasing an additional 3,068 shares during the period. Tableaux LLC bought a new stake in shares of Planet Labs PBC during the 2nd quarter worth $61,000. May Hill Capital LLC bought a new stake in shares of Planet Labs PBC during the 2nd quarter worth $62,000. Iron Gate Global Advisors LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $36,000. Finally, HighTower Advisors LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $37,000. 41.71% of the stock is currently owned by institutional investors.
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.
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