Planet Labs PBC (NYSE:PL) Shares Down 26.3% – Time to Sell?

Planet Labs PBC (NYSE:PL) shares were down 26.3% on Friday . The company traded as low as $31.66 and last traded at $32.0770. Approximately 40,362,878 shares traded hands during trading, an increase of 205% from the average daily volume of 13,246,796 shares. The stock had previously closed at $43.53.

Key Stories Impacting Planet Labs PBC

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

• Positive Sentiment: Planet Labs posted record quarterly revenue of $94.2 million, above estimates, and said revenue rose 42% year over year, showing continued demand for its satellite imagery and data services. Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company also raised its full-year outlook, guiding FY2027 revenue to $425 million-$441 million, which was roughly in line to slightly above Wall Street expectations and reinforced confidence in growth momentum. Planet forecasts FY2027 revenue of $425M-$441M as it targets Rule of 40
• Positive Sentiment: Planet expanded its backlog and said defense and intelligence revenue grew more than 65% year over year, highlighting a healthy pipeline and stronger government demand. Planet Labs beats Q1 estimates as defense revenue surges, shares fall on outlook
• Positive Sentiment: Wedbush and Needham both reiterated constructive views, with price targets raised to $50 and $53 respectively, suggesting analysts still see meaningful upside from current levels. Why Is Planet Labs Stock Sinking Friday?
• Neutral Sentiment: Planet also extended its NGA partnership with an $22 million maritime surveillance contract, adding another government revenue stream and supporting longer-term visibility. Planet Labs Extends NGA Partnership With $22 Million Maritime Surveillance Contract
• Negative Sentiment: Shares are under pressure because investors are worried about dilution after Planet filed for a large at-the-market stock program, which could increase the share count over time. Planet Labs Launches $1.5 Billion ATM Stock Program
• Negative Sentiment: Some traders were also disappointed that full-year guidance and capital-allocation details did not appear aggressive enough, leading to a selloff despite the earnings beat. Wedbush makes a strong case for buying the dip in Planet Labs stock

Wall Street Analyst Weigh In

A number of equities analysts have commented on PL shares. Cantor Fitzgerald lifted their price objective on shares of 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 lifted their price objective on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 25th. Wedbush reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Planet Labs PBC in a research report on Friday. Citigroup lifted their price objective on shares of Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.11.

Planet Labs PBC Stock Performance

The stock’s 50-day moving average price is $38.85 and its 200-day moving average price is $27.60. The company has a market cap of $11.10 billion, a P/E ratio of -41.12 and a beta of 1.99. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $94.15 million during the quarter, compared to analysts’ expectations 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 business’s revenue was up 42.1% on a year-over-year basis. Equities analysts anticipate that Planet Labs PBC will post -0.45 EPS for the current year.

Insider Transactions at Planet Labs PBC

In related news, CFO Ashley F. Johnson sold 200,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the sale, the insider directly owned 256,488 shares of the company’s stock, 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. Insiders own 16.42% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently bought and sold shares of the company. American Capital Advisory LLC bought a new stake in Planet Labs PBC during the first quarter worth about $28,000. Western Wealth Management LLC bought a new stake in Planet Labs PBC during the first quarter worth about $28,000. Pittenger & Anderson Inc. lifted its position in Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after purchasing an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Planet Labs PBC during the first quarter worth about $41,000. Finally, Parkside Financial Bank & Trust lifted 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 worth $31,000 after purchasing an additional 745 shares during the period. Institutional investors own 41.71% of the company’s stock.

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.