Planet Labs PBC (NYSE:PL) Reaches New 12-Month High – Should You Buy?

Planet Labs PBC (NYSE:PL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.11 and last traded at $9.90, with a volume of 1183195 shares trading hands. The stock had previously closed at $9.78.

Analyst Ratings Changes

PL has been the topic of a number of analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. The Goldman Sachs Group initiated coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They issued a “neutral” rating and a $4.60 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Wall Street Zen raised shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Finally, Wedbush increased their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.56.

Planet Labs PBC Stock Down 0.1%

The stock has a market capitalization of $3.01 billion, a P/E ratio of -32.58 and a beta of 1.81. The business’s 50 day simple moving average is $6.90 and its two-hundred day simple moving average is $5.11.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $65.88 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its stake in shares of Planet Labs PBC by 45.1% in the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after buying an additional 3,068 shares in the last quarter. Tableaux LLC purchased a new stake in shares of Planet Labs PBC in the second quarter valued at about $61,000. May Hill Capital LLC purchased a new stake in shares of Planet Labs PBC in the second quarter valued at about $62,000. Iron Gate Global Advisors LLC purchased a new stake in shares of Planet Labs PBC in the first quarter valued at about $36,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Planet Labs PBC in the first quarter valued at about $37,000. 41.71% of the stock is 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.