Planet Labs PBC (NYSE:PL) Stock Rating Lowered by Citizens Jmp

Planet Labs PBC (NYSE:PL) was downgraded by analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, MarketBeat reports.

A number of other brokerages also recently commented on PL. Needham & Company LLC increased their price target on shares of Planet Labs PBC from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. JMP Securities boosted their target price on Planet Labs PBC from $8.00 to $11.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 9th. Finally, The Goldman Sachs Group began coverage on 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. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.26.

Planet Labs PBC Stock Down 3.4%

Planet Labs PBC stock opened at $12.48 on Tuesday. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -41.59 and a beta of 1.99. The firm’s fifty day moving average is $10.60 and its 200 day moving average is $6.88. Planet Labs PBC has a 52-week low of $2.18 and a 52-week high of $16.78.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.07) 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 for the quarter, compared to the consensus estimate of $65.88 million. During the same quarter last year, the business earned ($0.06) EPS. Planet Labs PBC’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. On average, equities research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares in the company, valued at $19,977,066.50. The trade was a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.53% of the company’s stock.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently made changes to their positions in PL. Goldman Sachs Group Inc. boosted its stake in shares of Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after purchasing an additional 653,173 shares during the period. LBP AM SA lifted its holdings in Planet Labs PBC by 17.0% during the 2nd quarter. LBP AM SA now owns 934,158 shares of the company’s stock valued at $5,698,000 after buying an additional 135,680 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Planet Labs PBC during the 1st quarter valued at about $115,000. Principal Financial Group Inc. lifted its holdings in Planet Labs PBC by 1,316.8% during the 1st quarter. Principal Financial Group Inc. now owns 167,362 shares of the company’s stock valued at $566,000 after buying an additional 155,549 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in Planet Labs PBC by 13.1% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 427,365 shares of the company’s stock valued at $2,607,000 after buying an additional 49,615 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Company Profile

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.