Planet Labs PBC (NYSE:PL) Shares Down 1.3% – Should You Sell?

Shares of Planet Labs PBC (NYSE:PL) were down 1.3% during trading on Wednesday . The company traded as low as $30.20 and last traded at $30.7550. Approximately 11,076,156 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 13,376,562 shares. The stock had previously closed at $31.17.

Key Planet Labs PBC News

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

• Positive Sentiment: Planet Labs is benefiting from a broad rally in space-related stocks as investors rotate into the sector ahead of SpaceX’s highly anticipated IPO. Planet Labs Stock Skyrockets Ahead Of SpaceX’s Friday IPO
• Positive Sentiment: Recent commentary says Planet Labs’ strong results and fresh catalysts could offer upside as investors position for the second half of 2025. 3 Stocks With Fresh Catalysts to Watch Before July 4 (PL)
• Positive Sentiment: Planet Labs is using its AIRS initiative to connect satellite data with sustainability use cases, which could expand commercial opportunities over time. Planet Labs Uses AIRS Initiative To Link Satellite Data With Sustainability
• Neutral Sentiment: Analyst note activity included mixed estimate changes from Northland Securities, reflecting some near-term uncertainty but no major change in the longer-term story. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)
• Negative Sentiment: Northland Securities lowered some future EPS estimates for Planet Labs, which could weigh on sentiment by highlighting continued profitability challenges. Analyst estimate updates for Planet Labs PBC (PL)

Wall Street Analyst Weigh In

A number of analysts have commented on PL shares. Cantor Fitzgerald increased their price target on shares of Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. New Street Research started coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target for the company. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research note on Friday, June 5th. Citigroup increased their price target on shares of Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Planet Labs PBC in a research note on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.28.

Planet Labs PBC Trading Down 8.8%

The business’s 50 day moving average price is $38.98 and its 200-day moving average price is $28.33. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. The company has a market cap of $10.79 billion, a price-to-earnings ratio of -27.34 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business’s quarterly revenue was up 42.1% on a year-over-year basis. On average, equities analysts anticipate that Planet Labs PBC will post -0.81 EPS for the current fiscal year.

Insider Transactions at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the sale, 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 256,488 shares in the company, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.42% of the company’s stock.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after acquiring an additional 806,818 shares during the period. Canada Pension Plan Investment Board increased its position in Planet Labs PBC by 0.3% during the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock worth $47,704,000 after acquiring an additional 20,400 shares during the period. Van ECK Associates Corp increased its position in Planet Labs PBC by 320.3% during the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock worth $151,429,000 after acquiring an additional 5,851,758 shares during the period. Geode Capital Management LLC increased its position in Planet Labs PBC by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock worth $112,475,000 after acquiring an additional 71,381 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 acquiring an additional 301,757 shares during the period. 41.71% of the stock is owned by institutional investors.

About Planet Labs PBC

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.