Wedbush Reiterates Buy Rating for Planet Labs PBC
Wedbush maintains its optimistic view on Planet Labs PBC, keeping a buy rating and a $50 price target, a 51.29% upside from the current price.
Key Points
- Wedbush reiterated its buy rating on Planet Labs PBC (NYSE:PL) with a price target of $50 on July 1, 2026.
- Wedbush's $50 price target implies 51.29% upside from Planet Labs PBC's ($PL) current $33.05 share price.
- Planet Labs PBC shares traded around $31.82 on Wednesday, with a market cap of approximately $11.81 billion.
- Insiders at Planet Labs, including the CEO, sold shares in June, while institutional investors like BlackRock increased their holdings.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
Wedbush has reiterated its buy rating for Planet Labs PBC (NYSE:PL), maintaining a price target of $50. This reaffirmation came on July 1, 2026, as the firm continues to express confidence in the company's growth prospects.
Wedbush vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Planet Labs PBC Stock Up 65.4%
Shares of NYSE:PL traded near $31.82 on Wednesday. Planet Labs PBC, with a market cap of about $11.81 billion, is a player in the aerospace and defense industry. The company has a forward P/E ratio of 9948.949, reflecting its current lack of profitability. The stock has seen a 52-week low of $5.87 and a high of $51.76. It has a beta of 2.005, indicating higher volatility compared to the market. The company's 50-day moving average is $37.49, with a 200-day average of $24.46.
$PL price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its recent financials, Planet Labs reported revenue of $335.6 million, with a growth rate of 42.1%. However, the company is not yet profitable, posting a net margin of -111.17% and a return on equity of -83.99%. The next earnings report is expected on September 9, 2026.
Insider Buying and Selling at Planet Labs PBC
Several insiders at Planet Labs PBC have recently sold shares. On June 15, 2026, President and CFO Ashley Johnson sold 91,530 shares at an average price of $30.58. Co-Founder and CEO Dr. William Spencer Marshall also sold 134,641 shares on the same date. These transactions were not part of a pre-planned 10b5-1 trading plan.
Analysts Set New Price Targets
On July 1, 2026, Wedbush reiterated its buy rating for Planet Labs PBC with a $50 price target. Previously, on June 5, 2026, Craig-Hallum and Needham both maintained buy ratings with price targets of $49 and $53, respectively. The consensus among 10 analysts is a buy, with an average price target of $39.80.
About Planet Labs PBC
Planet Labs PBC is an industrial company specializing in aerospace and defense. Based in San Francisco, California, the company designs, builds, and operates satellite constellations to deliver high-frequency geospatial data. Its offerings include SuperDove, SkySat, and Pelican satellite services, which provide daily imaging of the Earth and high-resolution, targeted observations. Founded in 2010, Planet Labs serves various sectors, including agriculture, energy, and government agencies, under the leadership of CEO Dr. William Spencer Marshall.
Bottom Line
Wedbush's reiterated buy rating highlights continued optimism for Planet Labs PBC, despite its current financial challenges. The company's innovative satellite technologies and strategic market position are key factors that investors are watching closely. However, it's important to remember that analyst ratings and 13F filings are backward-looking and may not reflect the most current business conditions.
Get Planet Labs PBC alerts
New 13F filings, insider trades, and analyst moves on $PL, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.