Planet Labs PBC (NYSE:PL) on Thursday reported better-than-expected fourth-quarter sales results and issued FY27 guidance above estimates.
Planet Labs reported quarterly revenue of $86.82 million, which beat the consensus estimate of $78.53 million and was up from $61.55 million in the same period last year, according to Benzinga Pro.
“Planet had a transformational year driven by strong momentum in satellite services, including most recently with Sweden, as well as launching 40 satellites, and inking an R&D partnership with Google to explore data centers in space,” said Will Marshall, CEO of Planet.
Planet Labs expects first quarter revenue in a range of $87 million to $91 million, versus the $84.55 million analyst estimate, and fiscal 2027 revenue $415 million to $440 million, versus the $379.59 million estimate.
Planet Labs shares jumped 21% to $32.62 in pre-market trading.
These analysts made changes to their price targets on Planet Labs following earnings announcement.
- Needham analyst Ryan Koontz maintained Planet Labs with a Buy and raised the price target from $35 to $40.
- Wedbush analyst Dan Ives maintained the stock with an Outperform rating and raised the price target from $30 to $40.
Considering buying PL stock? Here’s what analysts think:
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