Planet Labs PBC (NYSE:PL) Hits New 1-Year High – Here’s Why

Planet Labs PBC (NYSE:PL) reached a new 52-week high during trading on Monday . The company traded as high as $8.12 and last traded at $7.75, with a volume of 6536844 shares traded. The stock had previously closed at $6.53.

Analyst Ratings Changes

A number of research firms recently commented on PL. Citigroup reiterated an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday. JMP Securities boosted their target price 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. Needham & Company LLC lifted their target price on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Moderate Buy” and a consensus target price of $7.56.

Planet Labs PBC Stock Down 6.6%

The stock’s 50-day moving average is $6.73 and its 200 day moving average is $5.00. The stock has a market capitalization of $2.74 billion, a PE ratio of -30.07 and a beta of 1.81.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.09%. The company had revenue of $73.39 million for the quarter, compared to analysts’ expectations of $65.88 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PL. Iron Gate Global Advisors LLC purchased a new position in Planet Labs PBC during the first quarter valued at approximately $36,000. HighTower Advisors LLC acquired a new stake in Planet Labs PBC in the first quarter valued at approximately $37,000. Forum Financial Management LP acquired a new stake in Planet Labs PBC in the first quarter valued at approximately $39,000. Wellington Shields & Co. LLC acquired a new stake in Planet Labs PBC in the first quarter valued at approximately $39,000. Finally, Mackenzie Financial Corp lifted its stake in Planet Labs PBC by 32.1% in the first quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock valued at $45,000 after acquiring an additional 3,245 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other 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.