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“Planet Labs Stock Soars 98% in Half a Year: Should Investors Consider Buying Now?”

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Planet Labs PBC Shines with Impressive Returns and Strategic Growth Initiatives

Planet Labs PBC (PL), a leading provider of daily satellite imagery and geospatial services, has delighted investors with a remarkable 97.9% return over the past six months.

In this period, Planet Labs has significantly outperformed the wider Zacks Computer and Technology sector, which returned only 3.7%, as well as the Zacks Internet – Software industry’s 14.2% return. Compared to its industry peers, Compass (COMP) and Innovid (CTV), which reported gains of 40.8% and 75.1% respectively, Planet Labs stands out with its exceptional performance.

This impressive growth underscores increasing investor confidence in Planet Labs’ strategic plans and market potential. Key factors driving this success include an increase in global customer growth—thanks in part to the acquisition of Sinergise—effective cost management, and the expansion of contracts with existing clients.

Price and Consensus Overview for Planet Labs

Planet Labs PBC Price and Consensus

Planet Labs PBC price-consensus-chart | Planet Labs PBC Quote

Strategic Partnerships Enhance Future Outlook

Planet Labs is committed to advancing its satellite technology, exemplified by its partnership with NVIDIA (NVDA) on the Pelican-2 satellite. This collaboration is set to integrate AI capabilities, allowing real-time analysis and faster delivery of actionable insights to customers.

In a notable achievement, Planet Labs secured a multi-year contract worth seven figures with Laconic. Over the next three years, Laconic will utilize AI-driven forest carbon insights derived from Planet Labs’ satellite data.

Additionally, Planet Labs has extended its agreement with the National Police of Colombia, who will use its satellite data to monitor and combat illegal crop production in near real-time.

Furthermore, the Taylor Geospatial Institute (TGI) renewed its contract with Planet Labs for data provision until 2026. This agreement includes access to several of Planet’s leading products, such as PlanetScope data, extensive data archives, and high-resolution SkySat data.

Technological Innovations Fuel Growth

Planet Labs continues to invest in technology to stay competitive. With a large archive of images and a focus on AI-driven solutions, the company is poised to capitalize on significant market opportunities.

Recently, Planet Labs launched its AI-powered Forest Carbon Monitoring product. This service measures forests globally every three months at a resolution of 3 meters, providing valuable data for voluntary carbon markets, regulatory compliance, and deforestation mitigation.

Planet Labs has also successfully launched 36 SuperDoves and its first hyperspectral satellite, Tanager-1, as part of SpaceX’s Transporter-11 mission. Tanager-1 aims to detect and monitor methane and CO2 emissions with precision, paving the way for effective mitigation strategies.

The outcomes of these launches are expected to generate revenue starting in fiscal 2026 and explore new business avenues across defense, intelligence, civil government, and commercial sectors.

Optimism surrounds Planet Labs’ future. The Zacks Consensus Estimate for fiscal 2026 suggests a year-over-year revenue increase of 12.2% and a reduction in loss per share from 15 cents to 7 cents. The company has exceeded the Zacks Consensus Estimate in three of the last four quarters, averaging a surprise of 28.2%.

For the latest EPS estimates and surprises, visit Zacks Earnings Calendar.

Zacks Ranking Update

Planet Labs holds a Zacks Rank #2 (Buy). This indicates that current investors should retain their shares while new investors might consider purchasing. You can view today’s complete list of Zacks #1 Rank (Strong Buy) stocks here.

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NVIDIA Corporation (NVDA): Free Stock Analysis Report

Innovid Corp. (CTV): Free Stock Analysis Report

Planet Labs PBC (PL): Free Stock Analysis Report

Compass, Inc. (COMP): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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