Wedbush Reaffirms Outperform Rating for Planet Labs PBC (NYSE:PL)

Planet Labs PBC (NYSE:PL)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report issued on Friday,Benzinga reports. They presently have a $50.00 target price on the stock. Wedbush’s price target suggests a potential upside of 40.41% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Citigroup boosted their price objective on shares of Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft set a $38.00 target price on shares of Planet Labs PBC and gave the company a “buy” rating in a research note on Friday, March 27th. Zacks Research cut Planet Labs PBC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group boosted their price target on Planet Labs PBC from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.69.

Planet Labs PBC Stock Performance

PL opened at $35.61 on Friday. The business’s 50-day simple moving average is $38.85 and its 200 day simple moving average is $27.60. Planet Labs PBC has a 52-week low of $4.90 and a 52-week high of $51.76. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65. The firm has a market capitalization of $12.33 billion, a PE ratio of -46.01 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Planet Labs PBC had a negative return on equity of 69.61% and a negative net margin of 80.22%.The firm had revenue of $94.15 million for the quarter, compared to analyst estimates of $90.00 million. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year. As a group, sell-side analysts expect that Planet Labs PBC will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Planet Labs PBC

In related news, insider Robert H. Schingler sold 73,683 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the sale, the insider owned 256,488 shares of the company’s stock, valued at $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total value of $7,020,000.00. Following the transaction, the chief financial officer owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.42% of the stock is currently owned by company insiders.

Institutional Trading of Planet Labs PBC

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Planet Labs PBC by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after purchasing an additional 806,818 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Planet Labs PBC by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after purchasing an additional 20,400 shares in the last quarter. Van ECK Associates Corp raised its stake in 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 valued at $151,429,000 after purchasing an additional 5,851,758 shares in the last quarter. Geode Capital Management LLC raised its stake in Planet Labs PBC by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock valued at $112,475,000 after purchasing an additional 71,381 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Planet Labs PBC by 7.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,137,871 shares of the company’s stock worth $81,599,000 after purchasing an additional 301,757 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Key Stories Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet reported first-quarter revenue of $94.15 million, beating expectations and rising 42.1% year over year, while EPS of -$0.03 matched estimates. The company also raised guidance, with Q2 revenue outlook of $102 million-$107 million and FY2027 revenue guidance of $425 million-$441 million, suggesting continued top-line momentum. Article: Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company also announced an extended NGA partnership, including an 8-figure contract extension for maritime surveillance and a new award for crisis response monitoring, reinforcing demand for Planet’s government and defense business. Article: Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response Monitoring
• Neutral Sentiment: Needham raised its price target on Planet Labs to $53 from $40 and reiterated a buy rating, signaling improving analyst confidence after the earnings report. Article: Analyst price target increase
• Negative Sentiment: Sentiment was pressured by Planet’s filing for a large at-the-market stock offering program of up to $1.5 billion, which can raise capital but also increases dilution risk for existing shareholders. Article: Planet Labs Launches $1.5 Billion ATM Stock Program

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.