Planet Labs rises after upbeat annual forecast

Planet Labs PBC

20/03/2026 09:33

** Shares of satellite imagery firm Planet Labs PL.N jump about 16% to $31.25 premarket

** Co forecasts FY27 revenue between $415 and $440 million, above analysts' average estimate of $383.99 million - data compiled by LSEG

** Sees Q1 revenue in the range of $87 million to $91 million, also above estimate of $85.16 million

** Q4 revenue a beat, co breaks even vs. expectations of adjusted loss of 5 cents per share

** Co awarded contract with Swedish Armed Forces in Q4, adding to existing contracts with government agencies in the U.S. and abroad, indicating robust demand

** Of 11 analysts tracking the stock, eight rate it "buy" or higher and three "hold"; their median PT is $28.50 - LSEG-compiled data

** As of last close, PL stock up more than 36% YTD after more than quadrupling last year

 (Reporting by Purvi Agarwal in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com;))