Planet Labs stock rating reiterated at Market Outperform by JMP

Investing.com - JMP Securities has reiterated its Market Outperform rating and $11.00 price target on Planet Labs (NYSE:PL), currently trading at $9.78 with a market capitalization of $3 billion, following a series of investor meetings in Boston. The company maintains impressive gross profit margins of nearly 59% and holds a GOOD overall financial health score according to InvestingPro.

The meetings, which took place on Tuesday, September 9, were attended by Tina Hristova, Senior Vice President of Finance, and Chris Genualdi, VP of Investor Relations at Planet Labs.

JMP analyst Trevor Walsh maintained the firm’s positive outlook on the satellite imaging company despite no change to the price target, which represents potential upside from current trading levels.

Planet Labs stock has performed exceptionally well in 2025, gaining approximately 142% year-to-date according to JMP’s analysis.

This performance significantly outpaces the broader market, with the Russell 3000 index up only 11% during the same period.

In other recent news, Planet Labs PBC announced its fiscal second-quarter results, highlighting a 20% year-over-year revenue growth, with revenue reaching $73.4 million. This performance surpassed the consensus expectations of $66.0 million. Additionally, the company provided guidance for fiscal Q3 and the second half of the year, which exceeded market expectations. In another development, Planet Labs has priced a $400 million offering of 0.50% Convertible Senior Notes due in 2030, increasing from the initially planned $300 million. The company has also released the first images from its Pelican-3 satellite, launched alongside Pelican-4 on SpaceX’s Falcon 9 mission. Analyst firms have reacted positively to these developments, with Craig-Hallum raising its price target for Planet Labs to $11 from $7, citing strong performance across various sectors. Needham also increased its price target to $12 from $8, maintaining a Buy rating due to the company’s impressive fiscal second-quarter results. JMP Securities followed suit, raising its price target to $11 from $8, while maintaining a Market Outperform rating.

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