Planet Labs PBC (NYSE:PL) Sets New 1-Year High on Analyst Upgrade

Planet Labs PBC (NYSE:PL) shares reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $26.00 to $35.00. Morgan Stanley currently has an equal weight rating on the stock. Planet Labs PBC traded as high as $37.05 and last traded at $35.2330, with a volume of 24826103 shares traded. The stock had previously closed at $31.83.

PL has been the topic of several other reports. National Bank Financial set a $12.30 price target on shares of Planet Labs PBC in a report on Tuesday, December 16th. Craig Hallum reiterated a “buy” rating and issued a $30.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Needham & Company LLC lifted their target price on shares of Planet Labs PBC to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Cantor Fitzgerald boosted their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Hold” and a consensus price target of $27.25.

Insider Buying and Selling

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total value of $4,071,244.31. Following the transaction, the chief financial officer directly owned 1,956,101 shares in the company, valued at $52,834,288.01. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijaya Gadde sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total transaction of $535,400.00. Following the transaction, the director directly owned 250,169 shares of the company’s stock, valued at $6,697,024.13. This represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 218,566 shares of company stock worth $5,896,276. Insiders own 17.53% of the company’s stock.

Key Headlines Impacting Planet Labs PBC

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

• Positive Sentiment: Planet expanded production capacity in Berlin to serve growing European AI satellite demand — a clear revenue-growth and TAM-expansion signal that investors rewarded with recent price gains. Planet Labs Expands Berlin Production To Serve European AI Satellite Demand
• Positive Sentiment: Analyst upgrades and bullish notes (including a Morgan Stanley call) have lifted sentiment and helped push the stock to new highs; coverage momentum can attract more institutional interest. Morgan Stanley Analyst Says Stock Price Expected to Rise
• Positive Sentiment: Media pieces highlight a very strong 12‑month performance and the company delivering its first full fiscal year of profitability, reinforcing a longer-term growth + earnings narrative. Planet Labs Stock Has Risen 765% in a Year
• Neutral Sentiment: Brokerage consensus sits around “Hold,” suggesting some analysts see upside but others prefer to wait for more proof of sustainable margins and execution. Given Average Recommendation of “Hold” by Brokerages
• Neutral Sentiment: Market commentary highlights the stock’s recent strong performance and notes broader macro headlines driving short-term market volatility — useful context but not company-specific. MarketBeat Week in Review – 03/23 – 03/27
• Negative Sentiment: Planet announced redemption of all outstanding public warrants. That move removes an overhang long term but can trigger near-term selling pressure as warrant holders decide to exercise, sell or accept redemption; it also brings cap‑table and cash/financing implications that investors must parse from the redemption terms. This announcement appears to be the immediate catalyst for the intraday pullback. Planet Labs Announces Redemption of Outstanding Public Warrants Planet Announces Redemption of Public Warrants

Institutional Trading of Planet Labs PBC

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 806,818 shares during the period. Canada Pension Plan Investment Board raised its stake in Planet Labs PBC by 0.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after acquiring an additional 20,400 shares during the period. Van ECK Associates Corp lifted its holdings 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 valued at $151,429,000 after purchasing an additional 5,851,758 shares during the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 71,381 shares during the period. Finally, Goldman Sachs Group Inc. boosted 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.

Planet Labs PBC Price Performance

The stock has a market cap of $9.70 billion, a PE ratio of -39.66 and a beta of 1.95. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The firm’s 50 day moving average price is $25.76 and its two-hundred day moving average price is $18.73.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.43). The business had revenue of $86.82 million during the quarter, compared to the consensus estimate of $78.17 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. Planet Labs PBC’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.