Planet Labs PBC (NYSE:PL) Shares Down 8.7% – Time to Sell?

Planet Labs PBC (NYSE:PL)’s share price dropped 8.7% during trading on Thursday . The stock traded as low as $32.12 and last traded at $32.3060. Approximately 14,431,801 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 13,714,725 shares. The stock had previously closed at $35.37.

Key Stories Impacting Planet Labs PBC

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

• Positive Sentiment: Management is accelerating European manufacturing: Planet is recruiting to staff a new Berlin satellite manufacturing facility, a practical step toward scaling production and supporting backlog conversion. This operational progress is a clear growth catalyst. Planet Labs PBC Accelerates European Expansion
• Positive Sentiment: Analyst action: Morgan Stanley raised its price target to $35 (maintaining an Equal Weight rating), which helped validate the rally and likely encouraged more institutional interest. That upgrade provided a near-term valuation anchor for some buyers. Morgan Stanley Raises Planet Labs Target to $35
• Positive Sentiment: Headline momentum pushed the shares to new highs this week as investors bet on international expansion and sector tailwinds (space-stock rotation and potential broader aerospace IPOs). That media/investor attention can sustain higher trading volumes and institutional flows. Planet Labs Rockets to All-Time High on Europe Expansion
• Neutral Sentiment: Sector/macro context: Market coverage highlights Planet’s improving fundamentals (record revenue growth, guidance, and adjusted EBITDA progress), which supports a multi-quarter growth story but doesn’t eliminate execution risks. Is 2026 the Year of Space Stocks?
• Negative Sentiment: Valuation and execution risks are real: the stock had a fast run-up, and Planet still reports negative earnings and high leverage. After hitting headlines and analyst attention, short-term profit-taking and rotation into other names can drive pullbacks — likely the main reason for today’s decline.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. Craig Hallum restated a “buy” rating and set a $30.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Finally, Citigroup increased their target price on shares of Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.25.

Planet Labs PBC Trading Down 8.7%

The stock has a market capitalization of $10.13 billion, a PE ratio of -41.42 and a beta of 1.95. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The firm has a 50-day moving average price of $25.63 and a 200-day moving average price of $18.49.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.43). The company had revenue of $86.82 million during the quarter, compared to analysts’ expectations of $78.17 million. Planet Labs PBC had a negative return on equity of 69.61% and a negative net margin of 80.22%.Planet Labs PBC’s quarterly revenue was up 41.1% on a year-over-year basis. As a group, equities analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Activity at Planet Labs PBC

In other news, Director Vijaya Gadde sold 20,000 shares of the firm’s 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 completion of the sale, the director owned 250,169 shares in the company, valued at $6,697,024.13. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the transaction, the insider owned 1,164,729 shares in the company, valued at approximately $22,537,506.15. The trade was a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 292,348 shares of company stock valued at $7,323,958 in the last three months. Insiders own 17.53% of the company’s stock.

Institutional Trading of Planet Labs PBC

Large investors have recently bought and sold shares of the company. Wellington Shields & Co. LLC raised its stake in shares of Planet Labs PBC by 2.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after buying an additional 435 shares during the period. Xponance LLC lifted its position in shares of Planet Labs PBC by 3.1% during the 4th quarter. Xponance LLC now owns 18,656 shares of the company’s stock valued at $368,000 after buying an additional 555 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Planet Labs PBC by 5.4% during the 4th quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after acquiring an additional 657 shares during the period. Pictet Asset Management Holding SA increased its holdings in Planet Labs PBC by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company’s stock worth $653,000 after acquiring an additional 690 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 745 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other 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.