Earth imaging co. Planet Labs continues to add to 340% YTD gain amid latest earnings

Shares of Planet Labs, a mid-cap satellite data provider, rose 35% to a record high on Thursday, December 11, after the company reported quarterly results showing record revenue and, for the first time, break-even earnings per share. The stock is already up more than 330% year to date, but the latest earnings, as Barron’s put it, “might send it to Mars.”

Planet Labs shares jumped 35% on the New York Stock Exchange on Thursday to close at $17.47 per share, an all-time high.

Investors were reacting to Planet Labs’ results for the third quarter of its fiscal 2026, ended October 31. Revenue rose 33% year over year to a record $81.3 million. The company also reported break-even earnings per share for the first time, Barron’s noted.

Both figures beat Wall Street expectations. Analysts had forecast a loss of $0.06 per share on revenue of $73.5 million.

Following the strong quarter, Planet Labs raised its full-year revenue forecast. Previously, the company expected revenue of $281 million to $289 million for the fiscal year ending in January; it now guides for $297 million to $301 million.

Since the start of the year, Planet Labs shares have gained about 332%.

“Recent quarterly reports have sent its stock to the moon. Its most recent one after Wednesday’s close of trading, might send it to Mars,” Barron’s wrote.

In September, the company reported a 20% year-over-year increase in revenue to $73.4 million, well above Wall Street’s estimate of $66 million. The stock rose 48% following that report.

A similar move occurred in June, when shares climbed 49% after Planet Labs released first-quarter results. It reported 10% year-over-year revenue growth to $66.3 million and a second consecutive quarter of positive adjusted EBITDA. Analysts had been expecting an adjusted EBITDA loss of $3 million, Bloomberg noted. The publication pointed out that stronger-than-expected results coincided with rising European defense spending.

Barron’s describes the post-earnings-release moves as sharp and says the volatility may be amplified by high short interest. About 13% of Planet Labs shares available for trading are sold short, versus an average of about 4% for companies in the S&P 500.

Planet Labs has seven "buy" recommendations versus two "hold" ratings from Wall Street analysts, according to MarketWatch data. The consensus target price is $17.86 per share, implying upside of about 2.2% from the latest close.

Planet Labs provides satellite-based data and imagery to companies and government agencies, including NASA. Its satellite fleet is used to monitor events such as forest fires and pipeline leaks. The company’s competitive advantage lies in its ability to collect satellite data around the globe in close to real time, which is easy to interpret and use, the Motley Fool wrote early in 2025. In contrast, legacy satellite companies provide data that is months out of date and very complex.