Brokerages Set Planet Labs PBC (NYSE:PL) Target Price at $35.11

Shares of Planet Labs PBC (NYSE:PL) have earned an average rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.2750.

A number of research firms recently issued reports on PL. Morgan Stanley lifted their price target on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. New Street Research began 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 on the stock. Craig Hallum lifted their price target on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Planet Labs PBC in a research note on Friday, June 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 price target on shares of Planet Labs PBC in a research note on Thursday.

Key Stories Impacting Planet Labs PBC

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)

Insiders Place Their Bets

In related news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the sale, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the sale, the insider directly owned 256,488 shares in the company, valued at $8,995,034.16. This represents a 22.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake 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 purchasing an additional 806,818 shares during the period. Divisadero Street Capital Management LP purchased a new stake in Planet Labs PBC during the third quarter worth about $13,564,000. AMI Asset Management Corp purchased a new stake in Planet Labs PBC during the fourth quarter worth about $673,000. Jefferies Financial Group Inc. purchased a new stake in shares of Planet Labs PBC during the third quarter worth approximately $875,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Planet Labs PBC by 122.9% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 981,828 shares of the company’s stock worth $12,744,000 after buying an additional 541,328 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $31.16 on Wednesday. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of -27.34 and a beta of 1.99. Planet Labs PBC has a 12 month low of $4.90 and a 12 month high of $51.76. The firm’s 50 day simple moving average is $38.99 and its 200-day simple moving average is $28.47. 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 (NYSE:PL) last issued its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business had revenue of $94.15 million for the quarter, compared to analysts’ expectations of $90.39 million. The business’s revenue was up 42.1% compared to the same quarter last year. Analysts expect that Planet Labs PBC will post -0.81 EPS 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.