Needham & Company LLC Lowers Planet Labs PBC (NYSE:PL) Price Target to $40.00

Planet Labs PBC (NYSE:PL) had its target price decreased by equities researchers at Needham & Company LLC from $53.00 to $40.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 117.16% from the company’s previous close.

PL has been the topic of several other reports. Berenberg Bank started coverage on shares of Planet Labs PBC in a report on Wednesday. They set a “buy” rating and a $25.00 target price on the stock. Craig Hallum boosted their price target on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a report on Friday, June 5th. New Street Research began coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $36.00 price objective on shares of Planet Labs PBC in a research note on Monday, June 15th. Finally, Zacks Research raised shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.56.

Planet Labs PBC Trading Down 7.9%

Shares of NYSE PL opened at $18.42 on Friday. Planet Labs PBC has a twelve month low of $6.26 and a twelve month high of $51.76. The firm has a market cap of $6.56 billion, a PE ratio of -16.16 and a beta of 2.10. The business has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $30.12. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $116.05 million for the quarter, compared to the consensus estimate of $104.53 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business’s revenue was up 58.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) EPS. Analysts expect that Planet Labs PBC will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director directly owned 37,114 shares in the company, valued at approximately $970,902.24. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ashley Johnson sold 75,035 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 1,132,122 shares of the company’s stock, valued at $24,997,253.76. This represents a 6.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 171,122 shares of company stock worth $4,148,906 over the last quarter. Insiders own 16.42% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of PL. American Capital Advisory LLC acquired a new stake in Planet Labs PBC in the first quarter valued at approximately $28,000. Western Wealth Management LLC acquired a new stake in Planet Labs PBC in the first quarter worth about $28,000. Parkside Financial Bank & Trust grew its stake in shares of Planet Labs PBC by 92.5% during the fourth 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. Pittenger & Anderson Inc. increased its holdings in shares of Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after acquiring an additional 395 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Key Stories Impacting Planet Labs PBC

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.