Needham & Company LLC Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its target price hoisted by research analysts at Needham & Company LLC from $40.00 to $53.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 21.99% from the company’s previous close.

PL has been the subject of a number of other reports. The Goldman Sachs Group raised their price target on Planet Labs PBC from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Weiss Ratings lowered Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Cantor Fitzgerald lifted their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Morgan Stanley boosted their target price 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. Finally, New Street Research initiated coverage on shares of Planet Labs PBC in a report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.69.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $43.45 on Friday. Planet Labs PBC has a 12-month low of $4.90 and a 12-month high of $51.76. 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 $38.85 and a 200-day moving average price of $27.60. The firm has a market capitalization of $15.04 billion, a PE ratio of -55.70 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $94.15 million for the quarter, compared to analyst estimates of $90.00 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. As a group, equities research analysts forecast that Planet Labs PBC will post -0.45 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Capital Advisory LLC bought a new position in shares of Planet Labs PBC in the 1st quarter worth $28,000. Western Wealth Management LLC purchased a new stake in shares of Planet Labs PBC during the 1st quarter worth $28,000. Parkside Financial Bank & Trust boosted its position in Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares in the last quarter. MCF Advisors LLC purchased a new position in Planet Labs PBC in the third quarter valued at about $32,000. Finally, Baillie Gifford & Co. purchased a new position in Planet Labs PBC in the fourth quarter valued at about $32,000. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC News Summary

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

• Positive Sentiment: Planet Labs reported fiscal Q1 2027 results with revenue of $94.15 million, topping estimates, while EPS of -$0.03 matched expectations and revenue grew 42.1% year over year. Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company raised its outlook, guiding Q2 FY2027 revenue to $102 million-$107 million and FY2027 revenue to $425 million-$441 million, both above or near Wall Street expectations, which signals confidence in continued growth. Planet forecasts FY2027 revenue of $425M-$441M as it targets Rule of 40
• Positive Sentiment: Planet extended its National Geospatial-Intelligence Agency relationship with an 8-figure contract extension for maritime surveillance and a new crisis-response monitoring award, reinforcing recurring government revenue and demand for its geospatial data services. Planet Secures 8-Figure NGA Contract Extension for Maritime Surveillance and New Award for Crisis Response Monitoring
• Neutral Sentiment: The Q1 earnings call transcript and presentation may have helped investors dig into management’s growth strategy and Rule of 40 targets, but they do not add new headline-moving information beyond the results and guidance. Planet Labs PBC (PL) Q1 2027 Earnings Call Transcript
• Negative Sentiment: Despite the strong report, one market commentary said the stock slipped, suggesting some investors may be taking profits or focusing on profitability challenges given ongoing losses and negative margins. Planet Labs stock slips despite strong Q1 earnings: Details

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.