Planet Labs PBC (NYSE:PL) Stock Rating Upgraded by Berenberg Bank

Planet Labs PBC (NYSE:PL) was upgraded by research analysts at Berenberg Bank to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Several other brokerages have also weighed in on PL. Needham & Company LLC upped their target price on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. The Goldman Sachs Group boosted their price target on Planet Labs PBC from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Northland Securities set a $50.00 price target on Planet Labs PBC in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Planet Labs PBC in a research note on Monday, June 15th. Finally, Wedbush began coverage on Planet Labs PBC in a report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.56.

Planet Labs PBC Trading Down 7.9%

Shares of PL stock opened at $18.42 on Wednesday. The business’s fifty day moving average price is $23.84 and its 200 day moving average price is $30.12. The firm has a market capitalization of $6.56 billion, a PE ratio of -16.16 and a beta of 2.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. Planet Labs PBC has a 1-year low of $6.26 and a 1-year high of $51.76.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The company had revenue of $116.05 million for the quarter, compared to analyst estimates of $104.53 million. During the same period in the previous year, the firm earned ($0.07) EPS. The business’s revenue was up 58.2% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Insider Activity

In other news, insider Robert Schingler sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $25.92, for a total value of $648,000.00. Following the sale, the insider directly owned 225,171 shares in the company, valued at $5,836,432.32. This represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashley Johnson sold 75,035 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the transaction, the chief financial officer directly owned 1,132,122 shares of the company’s stock, valued at approximately $24,997,253.76. This trade represents a 6.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 171,122 shares of company stock worth $4,148,906 over the last ninety days. 16.42% of the stock is currently owned by insiders.

Institutional Trading of Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Planet Labs PBC during the second quarter valued at $590,000. Carlson Financial Inc. acquired a new position in Planet Labs PBC in the 2nd quarter valued at about $231,000. California State Teachers Retirement System lifted its holdings in Planet Labs PBC by 3,265.0% in the 2nd quarter. California State Teachers Retirement System now owns 9,622,277 shares of the company’s stock valued at $290,440,000 after purchasing an additional 9,336,325 shares in the last quarter. FirstWave Capital Management LLC purchased a new position in Planet Labs PBC in the 2nd quarter valued at about $2,182,000. Finally, Raiffeisen Bank International AG boosted its stake in shares of Planet Labs PBC by 36.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 298,000 shares of the company’s stock worth $9,321,000 after purchasing an additional 80,000 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Planet Labs PBC News

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

• Positive Sentiment: Strong Q2 execution: Planet reported adjusted earnings of $0.02 per share, versus expectations for a $0.02 loss, while revenue rose 58.2% year over year to $116.1 million, exceeding the $104.5 million consensus estimate. The company said this was its fourth consecutive quarter meeting or exceeding the Rule of 40. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Analyst upgrade: Berenberg Bank upgraded Planet Labs PBC (PL) to “strong buy,” potentially providing support after the recent selloff and signaling confidence in the company’s long-term satellite-imaging and data opportunity.
• Positive Sentiment: Defense demand: Planet signed a seven-figure agreement with a European defense and intelligence customer. The contract adds to investor enthusiasm about government and national-security applications for Planet’s Earth-imaging data, following its broader defense-related momentum. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Neutral Sentiment: Long-term growth debate: Coverage comparing Planet Labs with Snowflake highlights PL’s approximately 200-satellite constellation and daily Earth-imaging capabilities, but also reflects the stock’s growth-oriented, higher-risk valuation profile.
• Negative Sentiment: Near-term guidance disappointed: Planet forecast fiscal third-quarter revenue of $101 million to $105 million, below the $114.3 million analyst consensus. Full-year fiscal 2027 revenue guidance of $430 million to $441 million was near consensus, but the quarterly shortfall likely outweighed the earnings beat for some investors.
• Negative Sentiment: Recent selling pressure: PL previously declined even after announcing the defense contract, as investors reduced exposure to commercial space stocks. Planet remains unprofitable on a GAAP basis, with a negative net margin and return on equity, adding to valuation sensitivity.

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.