Track market-moving stories before they get noisy

Key Takeaways Planet Labs' new Berlin facility can produce up to 60 satellites annually to serve European sovereign demand.Defense and Intelligence revenues surged 93.3%, while EMEA revenues jumped more than 130% in Q2.PL expects $100-$115M in fiscal 2027 capex as weaker free cash flow raises concerns about returns.
Planet Labs PBC (PL - Free Report) is expanding its manufacturing footprint in Europe as sovereign satellite demand becomes a larger part of its growth story. The new Berlin facility adds capacity closer to European customers and could support faster regional execution.

The opportunity comes with a cost. Planet Labs is increasing capital spending while free cash flow has weakened, making utilization and returns on the new capacity important measures of whether the expansion creates durable value.

Planet Labs Adds Major European CapacityPlanet Labs opened its 5,700-square-meter Berlin satellite manufacturing facility in September. The site is designed to scale to as many as 60 satellites annually, with the first satellite expected before year-end.

The expansion also brings production closer to European sovereign customers, where Planet Labs has seen growing interest in satellite services and related capabilities.

PL Is Already Seeing Sovereign DemandIn August, Germany’s Federal Ministry of the Interior awarded Planet Labs a tender for dedicated-capacity satellite services. The award includes options and carries a maximum possible value of €25 million over five years, with Germany becoming the first civil government to procure Planet Labs’ dedicated Constellation Services.

The company is building a broader European presence around that demand. BlackSky Technology Inc. (BKSY - Free Report) , another space-based intelligence provider, is also pursuing international government opportunities through its high-revisit imaging and analytics platform. Satellogic Inc. (SATL - Free Report) serves defense, civil government and commercial customers with persistent Earth-observation monitoring, underscoring the competitive push for sovereign and regional space capabilities.

Planet Labs’ Defense Business Is Expanding FastDefense and Intelligence revenues reached nearly $81 million in the fiscal second quarter of 2027, up 93.3% year over year. The category represented about 70% of quarterly revenues, making it the company’s largest customer vertical during the period.

European demand has been especially strong. Revenues in Europe, the Middle East and Africa increased more than 130% year over year in the quarter. The growth reflects Planet Labs’ expanding sovereign satellite business and gives the Berlin investment a clear regional demand backdrop.

PL Must Fund Capacity Before Returns ImproveThe Berlin buildout is part of a wider investment program. Planet Labs expects fiscal 2027 capital expenditures of $100-$115 million as it expands manufacturing in San Francisco and Berlin, improves supply-chain resiliency and develops next-generation satellite fleets.

Liquidity provides room to invest, with roughly $865 million in cash, cash equivalents and short-term investments at the end of the fiscal second quarter. Still, first-half free cash flow fell to $21.3 million from $54.3 million a year earlier, while trailing 12-month return on invested capital was negative 39.1%. Higher utilization and operating leverage will be important if the new capacity is to improve returns.

PL’s Scores Reflect Opportunity and Execution RiskThe Berlin facility strengthens Planet Labs’ ability to address European sovereign demand, but the investment case still depends on execution. More manufacturing capacity can support growth only if contract wins translate into sustained revenues, improving margins and better capital efficiency.

PL currently carries a Zacks Rank #3 (Hold). It has a Momentum Score of A and Growth Score of B, but a Value Score of F and VGM Score of C. The stronger Momentum and Growth scores point to favorable characteristics in those styles, while the weak Value score argues for valuation discipline. Taken together, the signals support a measured view as investors watch how effectively Planet Labs converts its European expansion into higher-return growth.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Planet Labs shares plunge 25.8% in a month as heavy capital spending and premium valuation cloud its robust defense-led growth.

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced that its subsidiary, Planet Labs Federal, has been awarded an evaluation task order under NASA's Commercial Satellite Data Acquisition (CSDA) program. Under the agreement, NASA will evaluate Planet's high-resolution Tanager hyperspectral dataset to assess its quality, reliability, and utility for supporting the agency's Earth science goals. Under the a.

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced the successful launch of Pelican-12, an updated second generation (Gen 2) high resolution Pelican™ satellite. Pelican-12 was launched to orbit aboard the Bandwagon-5 rideshare mission with SpaceX from Cape Canaveral Space Force Station in Florida. Planet has successfully made initial contact with the satellite and has begun the process to commission th.

Key Takeaways PL's subsidiary will develop Slovenia's Space Resilience Node under a 12-month ESA pilot project.The system will use Copernicus data & PlanetScope imagery to detect anomalies & trigger high-resolution scans.Government and defense wins, including an $8M NGA award, are expanding PL's market opportunities. Planet Labs PBC (PL - Free Report) is expanding its role in satellite-based intelligence after its subsidiary, Sinergise Solutions d.o.o., was selected by the European Space Agency (“ESA”) to develop Slovenia’s Space Resilience Node. The 12-month pilot project aims to automate satellite-based change detection and high-resolution image tasking to improve disaster response and situational awareness. The initiative highlights Planet’s efforts to combine frequent satellite imagery, automated analytics and high-resolution imaging services to address real-world challenges.

The Slovenia SRN project falls under ESA’s European Resilience from Space Earth Observation program. It will be developed in partnership with software company Lucis d.o.o. to support Slovenia’s Administration for Civil Protection and Disaster Relief. The system will analyze open Copernicus satellite data alongside PlanetScope imagery to identify changes and anomalies. When predefined thresholds are exceeded, the platform will automatically generate alerts and request high-resolution satellite images, including through Planet’s Pelican fleet. The imagery will reach emergency responders within hours, enabling faster crisis assessment and decision-making.

Initially, the project will focus on wildfire management across Slovenia’s approximately 20,000 square kilometers. The technology could eventually be adapted to monitor floods, landslides and other environmental hazards. By connecting broad-area monitoring with targeted, high-resolution imaging, Planet aims to shorten the time between detecting a potential threat and obtaining detailed information for emergency response.

Defense and government customers are becoming key catalysts to Planet’s growth strategy. Planet secured an $8 million NGA award, a German government satellite-services tender worth up to €25 million over five years and a seven-figure European defense contract in August. It also partnered with Rwanda’s Space Agency to provide satellite data and analytics for agriculture, urban planning and disaster response. Furthermore, it renewed a contract with a hyperscale AI developer to monitor data center and semiconductor facility construction. These wins continue to expand its opportunities across government, defense and commercial markets.

Mapping PL’s Competitive TerrainRedwire Corporation (RDW - Free Report) benefits from a record backlog, better revenue visibility, repeat defense awards and rising UAS and ISR demand. In August, Redwire announced a strategic investment in next-generation phased-array antenna technology to expand space-based communications for global warfighters across low, medium and geostationary Earth orbits. Its RF Systems portfolio has delivered more than 200 flight antennas, including tactical connectivity antennas used on the Proliferated Warfighter Space Architecture. The investment broadens Redwire’s defense capabilities beyond UAS and ISR into resilient space communications, supporting a larger Defense Tech opportunity over time. However, contract accounting remains sensitive to cost estimates and timing, potentially adding earnings volatility.

Satellogic (SATL - Free Report) secured several sovereign and defense agreements during the second quarter, including an $18 million Portugal CEiiA program, a defense monitoring contract worth more than $18 million and a $12 million NewSat satellite-delivery deal. It also highlighted an $80 million annual Aleph Observer program that advanced from pilot to full-scale deployment in under six months. It ended the quarter with $80.7 million in contracted, non-cancellable RPO, of which $45.8 million is expected to be recognized within 12 months. These deals highlight its shift toward recurring defense-monitoring subscriptions, although contract timing and lengthy procurement cycles remain key considerations.

PL’s Price Performance, Valuation & EstimatesPlanet Labs’ shares have lost 55.9% over the past six months compared with the Satellite and Communication industry’s 28.4% decline.

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Planet Labs’ shares trade at a forward 12-month price-to-sales multiple of 10.32X, significantly higher than the industry’s 2.8X.

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The Zacks Consensus Estimate for PL’s earnings for fiscal 2027 has been revised upward over the past 60 days.

Image Source: Zacks Investment Research

PL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Listen to the audio version of this article (generated by AI).

Editor’s note: “Google Just Put AI Chips in Orbit. These 5 Stocks Could Build What Comes Next.” was previously published in September 2026 with the title, “5 Space Stocks to Buy as Google Takes AI Into Orbit With Project Suncatcher.” It has since been updated to include the most relevant information available.

Imagine waking up in 2090 to a thin blue sunrise beyond your bedroom window.

You’re several hundred miles above Earth, starting a six-month assignment at a commercial research station. Down the hall, scientists are developing medicines in microgravity. A cargo ship outside your window is preparing for the next leg of its journey to a lunar outpost.

Before breakfast, you ask your AI assistant to review the overnight experiments and adjust the day’s schedule.

You barely think about where the computing happens. But somewhere beyond the station, a cluster of satellites is processing those requests, drawing electricity from sunlight and exchanging data through laser links.

An orbital data center. As ordinary to you as a server farm in Virginia was to your grandparents.

That’s one possible future. But getting there would require cheaper launches, reliable hardware and businesses that can earn a return on the enormous expense of operating in space.

For investors today, though, there’s a more immediate question: Which companies could get paid to build the first pieces of that future?

We’re about to find out.

On Oct. 1, Alphabet (GOOGL) put its first Project Suncatcher prototype into orbit. Developed with Planet Labs (PL), the satellite will test how Google’s Tensor Processing Units (the custom chips it uses for AI) perform in orbit.

The mission has a modest but essential assignment: Find out how that hardware handles the journey and the conditions waiting above Earth.

Its results could help determine what engineers build next, and which suppliers they need to build it.

That’s why I’m watching orbital data centers. Long before computing in space becomes routine, the effort to make it work could create demand for solar power systems, specialized electronics and communications equipment.

And several publicly traded companies already make the kinds of technology those systems will need.

That supply chain is also a key part of my XPANSE thesis: how the convergence of AI, energy, robotics and space could create opportunities for the businesses supplying the buildout. Later, I’ll show you where to find my full XPANSE briefing, including a free investment recommendation. But first, let’s look at what Google’s experiment could mean for the companies helping take AI into orbit.

Why Google Thinks AI Compute Could Move Into Space Back in April, we explored the case for moving AI infrastructure into orbit. The underlying idea remains compelling: If power availability limits where we can build computing capacity, finding a new source of power could expand the opportunity.

In the right orbit, Google estimates that solar panels can generate up to eight times as much energy as comparable panels on Earth, with nearly continuous sunlight reducing the need for batteries.

Project Suncatcher would use that electricity where it is generated. Google envisions satellites carrying AI processors and communicating through optical links, eventually functioning as a distributed computing system. Its original research announcement describes the engineering work needed to make that possible.

The appeal of this is easy enough to understand, but a computing facility that generates its own electricity in orbit would have a different set of constraints from one waiting for a connection to the terrestrial grid.

And those different constraints could create a different set of winners.

Think about the hardware required: efficient solar cells, deployable arrays, reliable electronics, communications equipment and systems that can keep working without a technician walking down the aisle.

Every one of those requirements represents a problem somebody needs to solve, and potentially a product somebody needs to buy.

What Project Suncatcher Has to Prove in Orbit Google’s latest update identifies the immediate priorities: surviving launch, operating through radiation exposure and managing heat. Ground testing has been encouraging, but an orbital mission will expose the hardware to conditions a laboratory cannot fully reproduce.

Cooling deserves particular attention. There is no airflow in a vacuum to carry heat away; Google is testing heat pipes and radiators to move heat out of its chips and reject it into space.

Then comes the networking test. Google plans to put two satellites in orbit in 2027 to evaluate the laser connections needed for distributed AI workloads.

Those are separate milestones. First, establish how the hardware operates in space. Then test whether multiple spacecraft can work together effectively.

For investors, each stage should sharpen the questions we ask.

Which components perform reliably? What needs redesigning? Which suppliers win follow-on work? And how much does the next version cost?

That’s how a promising concept starts becoming an investable business. The results need to support the next round of spending.

Google Isn’t the Only Company Exploring Orbital AI Google’s effort also sits alongside another significant development since our early-August issue.

On Aug. 24, Nvidia (NVDA) confirmed that SpaceXAI plans to extend its computing platform into orbit. The planned first-generation Starmind AI satellite would use an optimized version of the Vera Rubin NVL72 system.

That supports an important part of our original thesis: established AI computing platforms could provide the foundation for orbital systems. Nvidia and SpaceXAI are working to preserve a common architecture and software ecosystem while adapting the hardware for space.

Nvidia explicitly identifies power, thermal management, bandwidth, reliability and physical integration as constraints that differ dramatically from terrestrial data centers.

An Earth-based rack cannot simply be loaded onto a rocket and declared ready for business.

What interests me is the parallel investment in solving those problems. Google is exploring an approach built around its TPUs. SpaceXAI is pursuing one built around Nvidia’s platform. That gives the broader orbital-computing thesis more than one path forward.

It also suggests that investors should study suppliers whose products could be useful across different designs.

5 Space Stocks With Exposure to Orbital Data Centers The latest developments sharpen our orbital data center watchlist:

Planet Labs (PL) has the clearest connection to the Suncatcher milestone because it is Google’s named mission partner. That gives investors a specific program to keep tabs on. I would watch for evidence that the relationship expands into additional development work or commercial contracts; participation in a prototype alone does not establish a material earnings stream.

Rocket Lab (RKLB) deserves attention for more than launch services. In February, it introduced silicon solar arrays aimed at applications including space-based data centers. And on Sept. 8, it announced production availability of its IMM Apex solar cell, touting lower cell mass and a design that eliminates conventional germanium substrates. Those developments address two practical considerations for space infrastructure: weight and supply-chain availability.

Redwire (RDW) offers another way to follow the power-system opportunity. Its Roll-Out Solar Array technology has applications including the International Space Station. I see that experience as relevant to a potential orbital-computing buildout, though relevance still needs to translate into customer orders.

Microchip Technology (MCHP) supplies radiation-tolerant programmable chips for space applications. These supporting electronics deserve attention alongside the processors doing the AI calculations. The investment question is whether new programs produce enough incremental demand to matter to the broader business.

Nvidia (NVDA) remains a direct participant through the announced SpaceXAI development effort. Orbital computing could eventually expand its addressable market, but I would treat that as a long-term possibility when evaluating the stock, rather than assume a large near-term revenue contribution.

These companies have different exposures, valuations and execution risks. A good orbital-computing story is a starting point for research; orders, margins and cash flow will determine its value to shareholders.

The Bottom Line: Orbital Data Centers Are Starting to Create a Supply Chain What excites me about Suncatcher is how clearly it illustrates the next investment question in AI: What has to be built to make much more computing possible?

Answering that question takes us beyond the model itself and into energy, advanced chips, manufacturing and space infrastructure.

That convergence is central to the broader investment thesis I call XPANSE.

In my briefing, I explore how Elon Musk’s businesses could become more closely integrated around AI, robotics, energy and space. I also explain why some of the most interesting opportunities may be among the smaller businesses supplying the technology and materials those ambitions require.

More companies exploring orbital computing could create opportunities beyond any single founder or corporate deal.

The challenge for investors is figuring out which businesses can turn that interest into durable growth.

That’s where my XPANSE briefing comes in. I walk through the three investment moves I’m recommending and reveal the name and ticker of my top investment for this theme… for free.

Watch the XPANSE presentation and get my free recommendation here.

The grid is going up whether you’re positioned or not. Which side of the trajectory will you be on?

Key Takeaways Planet Labs launched 20 satellites, including Tanager-2, 18 SuperDoves and a Suncatcher prototype.Tanager-2 uses hyperspectral imaging to identify methane emissions and support several applications.The SuperDoves are set to boost PlanetScope capacity for near-daily global monitoring and diverse customers. Planet Labs PBC (PL - Free Report) has successfully launched 20 satellites aboard SpaceX’s Transporter-18 mission from Vandenberg Space Force Base, marking another step in expanding its satellite constellation and Earth-observation capabilities. The launch included the company’s second Tanager satellite, 18 SuperDoves and the first demonstration mission associated with Google’s Project Suncatcher.

The company established initial contact with Tanager-2, the Suncatcher prototype and two SuperDove satellites following deployment. The remaining 16 SuperDoves are expected to be deployed through D-Orbit’s ION satellite carrier as planned. The mission represents Planet Labs’ 40th successful launch and brings the total number of satellites the company has built and delivered to orbit to 718.

The Suncatcher demonstration is designed to test the feasibility of using Google Tensor Processing Units in space for machine-learning workloads. Meanwhile, Tanager-2, developed with Carbon Mapper, is equipped with hyperspectral imaging capabilities designed to identify methane emissions and support applications such as rare-earth element identification, water-quality monitoring and agricultural intelligence. The satellite captures imagery across 426 contiguous spectral bands with approximately 5-nanometer spectral resolution and 30-meter spatial resolution. Planet Labs expects to launch at least three additional Tanager satellites.

The 18 SuperDoves are part of PL’s Flock 4J mission and are expected to add capacity to the company’s PlanetScope constellation, which provides near-daily global monitoring. The expanded fleet is intended to support commercial customers as well as civil government, defense and intelligence applications.

Planet Labs plans additional launches to further expand its satellite constellations and support growing demand for satellite services, data and vertically integrated geospatial intelligence solutions. The company’s latest launch therefore adds capacity across multiple satellite platforms while advancing its efforts to broaden Earth-observation coverage and capabilities.

Taking a Look at PL’s CompetitorsRedwire Corporation (RDW - Free Report) benefits from a record backlog, better revenue visibility, repeat defense awards and rising UAS and ISR demand. Margin improvement reflects better execution as the business scales. Capacity projects in Huntsville and Georgetown are aligned with real demand areas and backed by stronger liquidity. RDW invested in phased-array antenna technology for space communications. Redwire also reaffirmed its full-year 2026 revenue forecast of $450-$500 million. The $475 million midpoint implies 41.6% year-over-year growth. The Zacks Consensus Estimate for revenues is pegged at $471 million, which is lower than the midpoint of the company's guided range.

Satellogic (SATL - Free Report) is gaining from strong sovereign and defense demand, rising adoption of persistent monitoring and improving operating leverage. The successful launch of its first Merlin satellite strengthens SATL’s path toward daily global remapping and full operational service in the second half of 2027. In the second quarter, revenues surged 259% year over year to $15.9 million, while adjusted EBITDA turned positive at $2.8 million. Growth was supported by sovereign satellite deliveries and expanding Aleph Observer subscriptions. Satellogic also ended the quarter with $80.7 million in contracted backlog, including $45.8 million expected within 12 months, providing solid revenue visibility.

PL’s Price Performance, Valuation & EstimatesPlanet Labs’ shares have lost 50.6% over the past six months compared with the Satellite and Communication industry’s 21.4% decline.

Image Source: Zacks Investment Research

Planet Labs’ shares are trading at a forward 12-month price-to-sales multiple of 11.89X, significantly higher than the industry’s ratio of 2.93X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PL’s earnings for fiscal 2027 has been revised upward over the past 60 days.

Image Source: Zacks Investment Research

PL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Planet Labs' 51% slide contrasts with 58% revenue growth and rising defense demand.PL had an $815M backlog and expects fiscal 2027 revenues to be in the range of $430-$441M. Planet Labs has $865M in liquidity to fund expansion, though valuation and execution risks remain. Planet Labs PBC’s (PL - Free Report) shares have declined 50.6% over the past six months, raising a familiar question for investors: Is the selloff a warning sign or an opportunity to buy?

Price Performance
Image Source: Zacks Investment Research

Planet Labs provides daily satellite imagery and geospatial solutions. The company has a differentiated position in the Earth-observation industry, combining daily global monitoring with a decade-long imagery archive.

However, a lower share price alone does not establish a buying opportunity. Let’s discuss the company’s growth factors and the risks it faces to assess investment prospects and make an informed decision.

Defense Demand Main Driver for Planet LabsRevenues surged 58% year over year to $116 million in the second quarter of fiscal 2027. Defense and Intelligence revenues (including satellite services revenues) rose more than 90% year over year, while commercial and civil-government revenues increased over 15% and 5%, respectively.

The handover of the Pelican satellite to the Swedish Armed Forces supported top-line growth. In August, the company was awarded a satellite services tender by Germany’s Federal Ministry of the Interior, making the country the first civil government to procure Planet Labs’ dedicated Constellation Services. The tender includes options and has a maximum possible value of €25 million over five years.

At its last earnings call, Planet Labs also highlighted an $8 million August award from the National Geospatial-Intelligence Agency for its Global Monitoring Service.  

Management raised the lower end of fiscal 2027 revenue guidance to $430-$441 million, representing 40-43% growth. It also projected adjusted EBITDA profit of $3-$10 million and targeted positive annual adjusted free cash flow.

PL’s Backlog Provides Revenue VisibilityThe company had a backlog of approximately $815 million, up about 11% year over year at the end of the fiscal second quarter. Roughly 50% of the backlog applies to the next 12 months and 70% to the next 24 months. Within Planet Labs’ eligible annual contract value book, recurring contracts represented 98%, and net dollar retention was 109%. Remaining performance obligations (“RPO”) totaled approximately $753 million, up 9% year over year.

Management estimates that executing contracts already in backlog could generate more than $400 million in revenues over the next four quarters, excluding new business and renewals. Management added that the company is confident it can sustain “high growth rates in future years,” supported by near-term visibility and pipeline strength.

This visibility is important as Planet Labs ramps up its satellite services business. On the last earnings call, management added that it had identified more than $4 billion in satellite-services opportunities, with over 25% qualified as near-term.

Planet Labs is also expanding capacity to support this opportunity. The company recently opened its Berlin manufacturing facility, which is expected to produce Pelican satellites and eventually scale to as many as 60 satellites per year.

AI and Satellite Upgrades Expand PL’s OpportunityCommercial applications are already emerging. An expanded six-figure renewal with a hyperscaler AI developer covers monitoring of global data centers and semiconductor-facility construction, illustrating how Planet Labs can participate in AI infrastructure growth through intelligence services.

The company is also advancing its satellite roadmap.  On Oct.1, Planet Labs announced the launch of 20 satellites which includes a Google Project Suncatcher prototype, Tanager-2 and 18 SuperDoves. This launch was the 40th for Planet Labs, which now has a total of 718 satellites built and delivered into orbit. Suncatcher satellite will test Google’s Tensor Processing Units in space for the first time.

Looking ahead, Planet Labs is accelerating Owl, its upcoming next-generation monitoring satellite. Owl is expected to upgrade Planet Labs' monitoring capabilities from 3-meter to 1-meter-class resolution while providing roughly 10 times more data at about 10 times the speed, added management.  

PL’s Sizable Financial ResourcesPlanet Labs exited the second quarter of fiscal 2027 with approximately $865 million in cash, cash equivalents and short-term investments, up more than 200% year over year. This increase was driven by positive free cash flow and proceeds from capital transactions over the past year.

The company generated $68.4 million in net cash from operating activities, while free cash flow was $21.3 million for the six months ended July 31, 2026. Adjusted free cash flow (excluding nonrecurring payments related to litigation settlements) was $28.8 million. PL generated nearly $120 million from stock sales under its ATM program. This sizable liquidity position gives Planet Labs ample flexibility to accelerate investments as demand for its satellite services and AI-enabled solutions grows.

No Case Is Without RisksQuarterly performance will remain uneven owing to the timing of satellite deliveries. Sweden’s satellite handover pulled revenues into the fiscal second quarter from the fiscal third quarter. Fiscal third-quarter guidance of $101-$105 million therefore implies a sequential revenue decline, alongside an expected adjusted EBITDA loss of $1-$6 million.

Growth also requires substantial investment. Planet Labs spent about $29 million in capital expenditures in the fiscal second quarter and expects fiscal 2027 capex of $100-$115 million. Management expects capex to increase in future quarters as it plans to channel spending toward manufacturing expansion in San Francisco and Berlin, supply-chain resiliency and next-generation satellite fleets.

Moreover, the increasing competition in the Earth observation space leaves less room for execution missteps. New satellites and AI offerings must deliver commercially, not merely meet development milestones. Planet Labs faces competition in the space from players such as BlackSky Technology (BKSY - Free Report) , Satellogic (SATL - Free Report) and Intuitive Machines, Inc. (LUNR - Free Report) .

PL’s ValuationPlanet Labs is trading at a forward 12-month price/sales ratio of 11.89X, higher than the Satellite and Communication sector’s multiple of 2.98X.

Image Source: Zacks Investment Research

The premium valuation to an extent is justified by its stronger growth profile, expanding backlog and rising defense exposure.

In comparison, BlackSky Technology trades at a forward 12-month P/S multiple of 4.51X, while Satellogic and Intuitive Machines are trading at a multiple of 12.62X and 2.97X, respectively.

Over the past six months, BKSY, SATL and LUNR have registered losses of 37.2%, 23.4% and 37.1%, respectively.

PL: A Buying Opportunity?At present, PL carries a Zacks Rank #2 (Buy).

Planet Labs’ sharp share-price decline appears to offer a favorable entry point given its strong revenue growth, sizable backlog and expanding opportunities across defense. Its solid liquidity position provides room to fund expansion, while execution risks and elevated valuation remain key considerations.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Planet Labs (PL +8.15%) stock soared 7.8% through 11:40 a.m. ET Friday after confirming the successful launch, aboard a "Transporter" Falcon 9 rocket managed by Space Exploration Technologies (SPCX +6.84%), of 20 Planet Labs-built satellites to orbit.

Image source: Getty Images.

What's Planet launching now?Running down the list, Planet says the SpaceX Transport 18 rocket carried to orbit:

18 SuperDove Earth observation satellites to supplement and maintain its existing "flock" of satellites that monitor happenings down here on Earth.One Tanager-2 hyperspectral satellite equipped with "cutting-edge, adjustable sensitivity imaging spectroscopy" that can detect methane emissions, analyze water quality, and even search for rare-earth elements on Earth.And one single Project Suncatcher satellite. This final payload was developed in partnership with Planet Labs customer Alphabet (GOOG +1.74%) (GOOGL +1.63%), and is equipped with Google artificial intelligence Tensor Processing Units.Its mission: To test whether TPUs can be used for AI satellites in space.

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What it means for Planet Labs?The SuperDove satellites offer the most immediate boost to Planet Labs' business, which derives essentially all of its $300 million-plus annual revenue from selling images captured by the company's Earth-observation satellites. Tanager-2 may supplement this core business. If you ask me, though, in the long term, Project Suncatcher may have the most potential to add a significant new revenue stream for Planet Labs by building AI satellites for Google to use in orbit.

Assuming the Suncatcher sat proves that TPUs can effectively process AI inference requests in orbit, collect solar power efficiently, and shed heat effectively, this may become Planet Labs' next big area of growth.

Suncatcher won't turn Planet Labs stock profitable immediately. (Analysts polled by S&P Global Market Intelligence don't expect that to happen before 2029.) But it gives Planet Labs its best shot at becoming a growth stock eventually.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Planet Labs PBC. The Motley Fool has a disclosure policy.

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced the successful launch of 20 satellites: the first demo mission for Google's Project Suncatcher; Tanager-2, its latest hyperspectral satellite; and 18 SuperDoves. The spacecraft were launched to orbit aboard the Transporter-18 rideshare mission with SpaceX from Vandenberg Space Force Base in California. Planet has successfully made initial contact with.

The Pentagon is pouring nearly $60 billion into space, and two very different companies are racing to grab their share. One sells intelligence from orbit, the other builds the machines that get there, and only one of them looks underpriced…

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Planet Labs (NYSE:PL) and Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) both posted record quarters on defense demand. Planet sells imagery and AI analytics. Rocket Lab builds and launches hardware. The Pentagon’s FY2027 request sets space funding at $59.7 billion, making this comparison critical.

Defense Buyers Feed Planet’s Pixels and Rocket Lab’s Factories Planet’s revenue rose 58.1% to $116.05M, with defense and intelligence revenue growing more than 90%. Commercial grew only more than 15%. Planet delivered Sweden’s armed forces a sovereign satellite about four months after signing, and CEO Will Marshall called that speed “a huge differentiation.”

Rocket Lab reached $234.07M in revenue, with Space Systems adding $189.5 million. Satellites now matter more than rockets. A $397M Flatellite award for the Space Force helped lift backlog to $2.36B. That gives Rocket Lab years of visible work.

Business Driver Planet Labs Rocket Lab Growth Engine Defense imagery, sovereign satellites Space Force spacecraft, launch Non-GAAP Gross Margin 59% 41.5% Adjusted EBITDA $13.93M profit $8.8M loss Visibility 98% recurring ACV 90+ launch backlog One Sells Answers While the Other Buys the Whole Stack Planet’s AI application entered open beta with underlying models like Gemini or Anthropic. Marshall said “the commoditization of those models only accentuates the extra value that we have of our data.” He sets Planet’s Earth observation share at under 5%, leaving room to grow if the archive keeps its advantage.

Rocket Lab plans to buy Iridium, which has 66 satellites and more than 2.5 million subscribers. Peter Beck wants a “self-launching, tier-1 space power.” Mynaric runs below Space Systems margins, and Rocket Lab is integrating three deals simultaneously.

Neutron’s Debut and Planet’s Q3 Dip Are Coming Fast Planet forecast Q3 revenue to $101M-$105M with adjusted EBITDA loss. Point-in-time revenue was 12% of the quarter, so some beat came from one-time deliveries. Watch whether the over $4 billion satellite services pipeline turns to signed contracts.

Rocket Lab still targets delivering Neutron to the launch pad in Q4 2026, but management admits the window is narrowing. It says standalone positive cash flow could come 18 to 24 months after a successful test flight.

Why I Lean Toward Planet’s Margin Engine at Today’s Price The choice comes down to whether you prefer a picks-and-shovels industrial compounder or a high-margin software engine with execution hurdles. Rocket Lab performs better today. It trades at 61.48 times trailing sales against Planet’s 16.77, and that price assumes Neutron works.

Planet is down 14.86% this year even though its margins are higher. That gap draws me in. A clean Neutron flight would change my view fast, and so would another quarter of weak commercial growth at Planet.

Contact [email protected] for any questions or corrections.

SAN FRANCISCO--(BUSINESS WIRE)--Please replace the photo with the accompanying corrected photo. The release reads: PLANET'S PELICAN-12 SATELLITE ARRIVES AT LAUNCH SITE Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced that Pelican-12, an updated second generation (Gen 2) high resolution Pelican™, has arrived at the Cape Canaveral Space Force Station in Florida ahead of its launch aboard the upcoming Bandwagon-5 rideshare mission wit.

Planet Labs PBC (NYSE:PL) shares are trading higher on Friday. The company disclosed that Pelican-12, an updated second-generation (Gen 2) high-resolution Pelican satellite, has arrived at Cape Canaveral Space Force Station in Florida ahead of its launch on SpaceX’s Bandwagon-5 rideshare mission.

• Planet Labs stock is trading near recent lows. What’s next for PL stock?

Pelican-12 Satellite Launch UpdatePelican-12 incorporates lessons from Pelican-11, launched in July, and includes payload and communications upgrades delivered less than three months later.

It will help Planet test technologies including commercial data relay services, intersatellite communications through a steerable antenna and two-way data rates above the 1 Mbps achieved in a 2025 demonstration.

Gen 2 Pelicans are designed for up to 30 cm-class imagery versus 50 cm-class imagery for Gen 1, supporting applications such as agricultural monitoring, critical infrastructure management and disaster response.

Pelican-12 will be Planet’s fifth Pelican launch in 2026. The company is expanding production at its Berlin facility and plans additional Pelican launches in 2027 to meet demand for high-resolution data products and Satellite Services.

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PL Technical Analysis: Trend, Momentum and Key LevelsFrom a longer-term trend view, the stock is still in a repair phase: it’s trading 12.4% below its 50-day SMA ($20.41) and more than 34% below both the 100-day and 200-day SMAs, with a Death Cross (50-day below 200-day) that formed in August still hanging over the chart. The near-term improvement is that price is back above the 20-day SMA ($17.56), which can be an early sign that selling pressure is easing.

Momentum looks more "range-bound than trending" right now, with RSI at 45.87 (neutral), meaning the stock isn’t stretched enough to scream overbought/oversold and may be waiting for a clearer catalyst. In that context, traders often watch whether RSI can push and hold above the 50 area to confirm improving demand rather than just a bounce.

Key levels are fairly clean given the moving-average stack overhead and the recent base-building near the lows:

Key Resistance: $21 — Round-number area that also sits near the 50-day zone where rebounds can stall. Key Support: $15.50 — Nearby floor area where buyers previously stepped in, closer to the stock’s recent lower range Industrials Sector Strength and PL Relative PerformancePlanet Labs is outperforming its Industrials peer group today, up about 0.23 percentage points versus the sector’s +1.27% move. That relative strength matters because Industrials is currently the top-ranked sector (No. 1 of 11), so the stock is leading within the day’s strongest pocket of the market.

Zooming out, the sector trend has been choppy: Industrials is down 5.19% over the past 30 days and down 6.45% over the past 90 days. In other words, today’s strength is a tailwind, but the intermediate backdrop still argues for respecting overhead resistance levels until the sector’s longer-term trend improves.

Planet Labs (PL) Earnings Preview and Analyst Price TargetsLooking further out, the next major catalyst for the stock arrives with the Dec. 9 (estimated) earnings report.

Revenue Estimate: $114.33 million (Up from $81.25 million year-over-year) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $39.80. Recent analyst moves include:

Citizens: Market Perform on Sept. 4 Needham: Buy (Lowers target to $40 on Sept. 4) Goldman Sachs: Neutral (Raises target to $25 on July 14) How Planet Labs (PL) Ranks on MomentumBelow is the Benzinga Edge scorecard for Planet Labs, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Weak (Score: 15.28) — The stock’s factor-based momentum profile is still lagging, which lines up with price sitting well below key longer-term moving averages. The Verdict: Planet Labs’s Benzinga Edge signal reveals a momentum-challenged setup despite today’s bounce. For longer-term traders, the chart likely needs sustained follow-through (and progress back toward the 50-day area) before the factor picture starts to look meaningfully healthier.

Top ETFs Holding Planet Labs (PL) Global X Copper Miners ETF (NYSE:COPX): 4.86% Weight Procure Space ETF (NASDAQ:UFO): 3.68% Weight VanEck Oil Refiners ETF (NYSE:CRAK): 4.87% Weight Significance: Because Planet Labs carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.

PL Stock Price Action TodayPL Stock Price Activity: Planet Labs shares were up 0.06% at $17.63 at the time of publication on Friday, according to Benzinga Pro data.

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Photo via Shutterstock 

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced that Pelican-12, an updated second generation (Gen 2) high resolution Pelican™, has arrived at the Cape Canaveral Space Force Station in Florida ahead of its launch aboard the upcoming Bandwagon-5 rideshare mission with SpaceX. Pelican-12 leverages key learnings from Pelican-11, which launched in July. Shipping less than three months later with updates.

Robert H. Schingler, co-founder and Chief Strategy Officer, reported the disposition of ~106,000 shares of Planet Labs PBC (PL -3.13%) on Sept. 15 and Sept. 17, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$1.8 millionShares sold~106,000Shares sold (directly held)54,117Shares sold (indirectly held)52,240Post-transaction shares (directly held)~719,000Post-transaction shares (indirectly held)~170,000Post-transaction value~$15.1 millionTransaction value based on SEC Form 4 weighted average sale price ($16.48); post-transaction value based on September 17, 2026 market close ($16.99).

Key questionsWhat necessitated the direct equity disposition?
The company withheld 54,117 shares to satisfy tax liabilities incurred upon the vesting of restricted stock units (RSUs), which is a common mechanism for managing equity compensation taxes.How was the indirect portion of the transaction managed?
The sale of 52,240 shares from the Ulysses Trust 02021.1, Dated February 26, 2021 was conducted under a Rule 10b5-1 trading plan established on April 23, 2026, to provide for pre-scheduled portfolio management.What is the current status of the insider's total equity holdings?
Following these transactions, Schingler retains ~889,000 total shares, of which 638,627 shares are derivative securities in the form of unvested RSUs.How has the stock performed leading up to these transactions?
Shares were priced at $16.99 as of the September 17, 2026 market close, and the company has delivered a 66% return over the one-year period ending on the transaction date.Company OverviewMetricValueShare Price (as of market close 2026-09-17)$16.99Market Capitalization$5.5 billionRevenue (TTM)$378.3 millionNet Income (TTM)-$359.9 millionCompany SnapshotPlanet Labs PBC operates an extensive satellite constellation that delivers frequent, global geospatial imagery and data analytics services to institutional customers through a proprietary cloud-native platform.The company generates revenue through subscription-based access to its satellite imagery and analytics platform, leveraging its constellation of Earth observation satellites to provide real-time and historical geospatial intelligence.The company serves government agencies, commercial enterprises, and institutional investors requiring high-frequency geospatial data for applications including agriculture, urban planning, disaster response, and infrastructure monitoring.Planet Labs PBC, based in San Francisco, is a leading provider of Earth observation data and analytics, operating one of the world's largest satellite constellations. The company has demonstrated significant market momentum, with its stock appreciating 66.08% over the past year, reflecting growing demand for accessible geospatial intelligence.

As a growth-stage aerospace and defense company, Planet Labs is positioned at the intersection of satellite technology and cloud computing, offering differentiated capabilities in frequent, global Earth imaging that support critical decision-making across multiple industries.

What this transaction means for investorsPlanet Labs co-founder Robert Schingler's disposition of company shares on Sept. 15 is not a cause for investor concern, since it was a non-discretionary transaction executed to fulfill tax withholding obligations in connection with the vesting of RSUs.

An RSU is a form of compensation where a company grants an employee shares of stock at a future date. When that vesting date arrives, as was the case here, a "sell to cover" transaction occurs to pay the related taxes.

Schingler's subsequent sale of stock on Sept. 17 was a pre-arranged disposal as part of a Rule 10b5-1 plan, making this a non-discretionary transaction. Such plans allow insiders to sell shares at predetermined times to avoid concerns of trading on non-public information.

Planet Labs has been successfully growing its business. The company reported record revenue of $116.1 million in its fiscal second quarter, ended July 31. This represented an impressive 58% year-over-year increase. Planet Labs expects to maintain sales growth in fiscal Q3, forecasting approximately $101 million to $105 million in revenue, up from the prior year's $81 million.

Key Takeaways Planet Labs ended fiscal Q2 with an $815M backlog, with about 50% applying to the next 12 months.Fiscal Q2 revenues surged 58% to $116M as Defense and Intelligence revenues rose more than 90%.Planet Labs sees over $4B in satellite-services opportunities while fiscal 2027 capex is set at $100-$115M. Planet Labs PBC (PL - Free Report) is entering the second half of fiscal 2027 with strong revenue visibility, buoyed by a growing backlog and expanding satellite services opportunity.

The company had a backlog of approximately $815 million, up about 11% year over year at the end of the fiscal second quarter. Roughly 50% of the backlog applies to the next 12 months and 70% to the next 24 months. Remaining performance obligations (“RPO”) totaled approximately $753 million, up 9% year over year.

Management estimates that executing contracts already in backlog could generate more than $400 million in revenues over the next four quarters, excluding new business and renewals. The company added that it is confident of sustaining “high growth rates in future years” supported by near-term visibility and pipeline strength.

This visibility is important as Planet Labs ramps up its satellite services business. On the last earnings call, management added that it had identified more than $4 billion in satellite-services opportunities, with over 25% qualified as near term.

Fiscal second-quarter revenues surged 58% year over year to $116 million. Defense and Intelligence revenues (including satellite services revenues) rose more than 90% year over year, while commercial and civil-government revenues increased over 15% and 5%, respectively.

The handover of the Pelican satellite to the Swedish Armed Forces supported top-line growth. In August, the company was awarded a satellite services tender by Germany’s Federal Ministry of the Interior, making the country the first civil government to procure Planet Labs’ dedicated Constellation Services. The tender includes options and has a maximum possible value of €25 million over five years.

Planet Labs is also expanding capacity to support this opportunity. The company recently opened its Berlin manufacturing facility, which is expected to produce Pelican satellites and eventually scale to as many as 60 satellites per year.

Nonetheless, the key challenge will be to translate this visibility into consistent growth. Increasing capex will be a factor to watch out for amid increasing competition in this space. Fiscal 2027 capex is expected at $100-$115 million.

Mapping the Competitive TerrainBlackSky Technology (BKSY - Free Report) is a provider of real-time geospatial intelligence and global monitoring services. On the last earnings call, the company noted that it had secured up to $200 million in bookings year-to-date, while multi-year international contracts for space-based intelligence subscriptions represented more than 80% of total funded backlog.

Increasing adoption of Gen-3 services and expansion with existing customers is expected to sustain the momentum. BlackSky has a pipeline of more than 20 Gen-3 satellites underway and is on track to have eight Gen-3 satellites in orbit by the end of the year. The company is on track for an on-time delivery of its first sovereign Gen-3 satellite in 2026. BlackSky recently announced that it “collected and processed first-light imagery” from its fifth Gen-3 satellite in less than 20 hours after liftoff, underscoring rapid commissioning capabilities.

Satellogic (SATL - Free Report) is a vertically integrated Earth-observation and geospatial intelligence company. The company ended the second quarter of 2026 with $80.7 million in contracted non-cancellable RPO, including $45.8 million expected to be realized within the next 12 months. The broader Space Systems pipeline remains around $1 billion.

Strong global sovereign demand is creating a durable tailwind. In the last reported quarter, Satellogic’s Space Systems delivered $8.8 million in revenues (comprising 55% of total revenues) driven by sovereign satellite deliveries. Increasing subscriptions for persistent monitoring is another growth factor. Satellogic is also ramping production for its Merlin, NewSat and NextGen programs as defense demand grows.

PL Price Performance, Valuation and EstimatesShares of Planet Labs have lost 21.6% over the past month against the Satellite and Communication industry’s growth of 3.4%.

Image Source: Zacks Investment Research

Planet Labs’ shares are trading at a forward 12-month price-to-sales multiple of 11.69X, higher than the industry’s ratio of 2.9X.  

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PL’s earnings for fiscal 2027 has been revised upward over the past 60 days.

Image Source: Zacks Investment Research

PL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Given the huge growth potential in these categories, it's not surprising to see the interest in Planet Labs (PL -0.94%) stock.

*Stock prices used were the afternoon prices of Sept. 19, 2026. The video was published on Sept. 21, 2026.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Planet Labs PBC (NYSE:PL – Get Free Report) and TrueBlue (NYSE:TBI – Get Free Report) are both industrials companies, but which is the superior business? We will contrast the two companies based on the strength of their profitability, dividends, analyst recommendations, earnings, risk, valuation and institutional ownership.

Profitability This table compares Planet Labs PBC and TrueBlue’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Planet Labs PBC -95.13% -93.11% -29.17% TrueBlue -3.35% -6.26% -2.65% Insider & Institutional Ownership 41.7% of Planet Labs PBC shares are held by institutional investors. Comparatively, 97.2% of TrueBlue shares are held by institutional investors. 16.4% of Planet Labs PBC shares are held by company insiders. Comparatively, 8.0% of TrueBlue shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock will outperform the market over the long term.

Risk & Volatility Planet Labs PBC has a beta of 2.1, suggesting that its share price is 110% more volatile than the S&P 500. Comparatively, TrueBlue has a beta of 1.67, suggesting that its share price is 67% more volatile than the S&P 500. Analyst Recommendations This is a summary of recent recommendations for Planet Labs PBC and TrueBlue, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Planet Labs PBC 1 6 5 1 2.46 TrueBlue 1 1 1 0 2.00 Planet Labs PBC currently has a consensus price target of $32.77, suggesting a potential upside of 99.79%. TrueBlue has a consensus price target of $7.75, suggesting a potential downside of 13.28%. Given Planet Labs PBC’s stronger consensus rating and higher probable upside, equities research analysts plainly believe Planet Labs PBC is more favorable than TrueBlue.

Earnings & Valuation This table compares Planet Labs PBC and TrueBlue”s revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Planet Labs PBC $307.73 million 19.40 -$246.86 million ($1.10) -14.91 TrueBlue $1.62 billion 0.17 -$47.96 million ($1.88) -4.75 TrueBlue has higher revenue and earnings than Planet Labs PBC. Planet Labs PBC is trading at a lower price-to-earnings ratio than TrueBlue, indicating that it is currently the more affordable of the two stocks.

Summary Planet Labs PBC beats TrueBlue on 8 of the 15 factors compared between the two stocks.

(Get Free Report)

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables. It serves agriculture, mapping, energy, forestry, finance and insurance companies, and government agencies. The company was founded in 2010 and is headquartered in San Francisco, California.

About TrueBlue (Get Free Report)

TrueBlue, Inc., together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries. The PeopleManagement segment offers contingent, on-site industrial staffing, and commercial driver services, which includes on-site management and recruitment for the contingent industrial workforce of manufacturing, warehousing, and distribution facilities; and recruitment and management of contingent and dedicated commercial drivers to the transportation and distribution industries under the Staff Management, SIMOS Insourcing Solutions, and Centerline Drivers brands. The company PeopleScout segment provides recruitment process outsourcing, talent advisory services, and managed service provider solutions including sourcing, screening, hiring, and onboarding services; operates Affinix, a technology platform for sourcing, screening, and delivering a permanent workforce to its clients; talent advisory services, such as employer branding, recruitment marketing, talent insights, diversity, equity and inclusion consulting, candidate assessment, and talent acquisition strategy consulting services; and contingent labor programs including vendor selection, performance management, compliance monitoring, and risk management. TrueBlue, Inc. was formerly known as Labor Ready, Inc. and changed its name to TrueBlue, Inc. in December 2007. The company was incorporated in 1985 and is headquartered in Tacoma, Washington.

Receive News & Ratings for Planet Labs PBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Labs PBC and related companies with MarketBeat.com's FREE daily email newsletter.

I think the primary reason so many investors are discussing Planet Labs' (PL -3.35%) stock is the rising geopolitical tensions.

*Stock prices used were the afternoon prices of Sept. 17, 2026. The video was published on Sept. 19, 2026.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Planet Labs (PL -3.35%) stock had been on a meteoric rise amid its rapid growth and high demand for its up-to-date Earth images. Unfortunately, after peaking in May, the stock reversed course and gave up about 67% of its value.

Despite the decline, the sell-off has continued and shows no obvious signs of bottoming. Amid those conditions, should investors begin to buy or remain on the sidelines?

Image source: The Motley Fool.

Assessing Planet Labs and its stock Planet Labs has developed a service that is hard to replicate. Unlike its competitors, its satellites photograph the planet's surface daily, providing its customers with up-to-date imagery. Before Planet Labs, users would have to turn to images that could be months or even years old.

Consequently, organizations can now react in real time to environmental, infrastructure, or geopolitical events. Additionally, the technology can process the data faster, allowing users to devote more time to analysis. This has become a more valuable resource as the company has now collected about 10 years of data.

Also, since government contracts power revenue growth, it likely does not surprise investors that its revenue for the first half of fiscal 2027 (ended July 31, 2026) was $210 million, up 44% from the same period in 2025.

Also, while it lost $148 million in the first two quarters of fiscal 2027, a change in the fair value of warrant liabilities accounted for $106 million of that loss. Fortunately, it also generated more than $21 million in free cash flow, meaning its "loss" comes from non-cash expenses.

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Still, these attributes did not make Planet Labs free of problems. Investors balked at the $1.5 billion equity dilution program the company announced in June to raise capital. Also, cautious revenue guidance in Q3 may have made investors question its high price-to-sales (P/S) ratio, which peaked at 49 back in June.

However, thanks to the pullback, the P/S ratio has fallen to 15, a level comparable to its valuation before the recent surge in the stock price. Also, while growth may slow, analysts forecast 42% revenue growth in this fiscal year and 31% in fiscal 2028.

Investors tend not to react well to slowing growth, even when it remains strong. Still, considering the recent drop in the stock price, that growth may be compelling enough to bring investors back to Planet Labs stock.

Given Planet Labs' current conditions and stock price, investors could justify some cautious buying.

Admittedly, the stock has not stopped falling, and a 15 sales multiple is not cheap. Thus, prospective shareholders should consider a dollar-cost averaging approach if they decide to buy.

Nonetheless, Planet Labs is the only company imaging the Earth on a daily basis, and its rapid revenue growth speaks to the demand for its images. That should help the company maintain higher growth rates and bring about an eventual recovery in the tech stock's price.

William Spencer Marshall, co-founder and Chief Executive Officer of Planet Labs PBC (PL +6.05%), disclosed a sale of 134,642 shares on September 15, 2026 in an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$2.2 millionShares sold134,642Post-transaction shares (directly held)2,568,473Post-transaction value~$41.15 millionTransaction value based on SEC Form 4 weighted average sale price ($16.02); post-transaction value based on September 15, 2026 market close ($16.02).

Key questionsWhat was the nature of this transaction?
The sale was a non-discretionary "sell-to-cover" event where shares were withheld by Planet Labs to satisfy tax liabilities incurred upon the vesting of restricted stock units (RSUs).What is the executive's remaining equity compensation profile?
Marshall continues to hold a significant number of additional restricted stock units that are scheduled to vest in quarterly installments.How does this impact the CEO's total direct equity position?
The CEO maintains a direct position of 2,568,473 shares of Class A Common Stock, which is valued at approximately $43.6 million based on the $16.99 market close as of September 17, 2026.How does the current market valuation relate to this withholding event?
While the transaction price was $16.02 on September 15, 2026, the company's market cap stood at $5.5 billion as of the September 17, 2026 close, during a period in which trailing twelve months revenue reached $378.3 million.Company OverviewMetricValueShare Price (as of market close 2026-09-17)$16.99Market Capitalization$5.5 billionRevenue (TTM)$378.3 millionNet Income (TTM)-$359.9 millionCompany SnapshotPlanet Labs PBC operates an extensive satellite constellation that delivers frequent, worldwide geospatial imagery and data to institutional and commercial customers through a proprietary cloud-native platform.The company generates revenue through subscription-based access to its satellite imagery platform and value-added analytics services, leveraging its differentiated constellation architecture to capture recurring revenue streams from government and enterprise customers.Planet Labs serves a diverse customer base including government agencies, defense contractors, agricultural enterprises, and commercial organizations requiring high-frequency geospatial intelligence for monitoring, analysis, and decision-making applications.Planet Labs PBC is a leading provider of frequent, global geospatial data derived from its proprietary satellite constellation, serving institutional customers across defense, intelligence, agriculture, and commercial sectors. The company has demonstrated significant market momentum, with trailing 12-month revenue of $378.3 million as of September 2026.

Despite current net losses reflecting investments in constellation expansion and platform development, Planet Labs maintains a competitive advantage through its unique ability to deliver high-frequency imagery at scale, positioning the company as a critical infrastructure provider in the rapidly growing geospatial intelligence market.

What this transaction means for investorsThe September 15 disposal of Planet Labs stock involving CEO William Marshall is not a cause for investor concern. The company withheld 134,642 shares to fulfill tax obligations in connection with the vesting of restricted stock units (RSUs).

An RSU is a form of compensation where a company grants an employee shares of stock at a future date. When that vesting date arrives, as was the case here, a "sell to cover" transaction occurs to pay the related taxes.

Post-disposition, Marshall retains a large equity stake in Planet Labs. His 2.6 million directly held shares, which includes 1.7 million RSUs, ensures his continued alignment with shareholder interests.

Planet Labs stock has plunged from a 52-week high of $51.76 reached in May because it had reached a sky-high valuation that was unsustainable. Now, shares are more reasonably priced, and the company is doing well.

Planet Labs reported record second-quarter revenue of $116.1 million, representing an impressive 58% year-over-year increase. On September 15, the company announced a deal with the German government that provides dedicated satellite service in a sign Planet Labs is expanding customer adoption of its offerings.

Listen to the audio version of this article (generated by AI).

Space has helped inform wars on Earth for decades.

Now the United States has acknowledged that it is prepared to fight there, too.

On Monday, Air Force Secretary Troy Meink publicly confirmed for the first time that the U.S. has deployed what he called “on-orbit space-control weapons.”

He did not say what they are. He did not say how many exist. And he would not explain whether they jam hostile signals, disable enemy satellites electronically, or use some other method entirely.

The details may be classified, but the message is not…

Space is becoming the next battlefield.

That would be a major story on its own.

It is also arriving as a French-UAE consortium commits $1 billion to an AI-enabled satellite constellation, Planet Labs (PL) reports record revenue, BlackSky (BKSY) grows sales 50%, and another rocket startup – Stoke Space – raises $1 billion to expand launch capacity.

For years, investors valued the space economy largely on what it might become. Global internet from orbit. Persistent surveillance. Lunar infrastructure. Factories in microgravity. Data centers floating above Earth.

Now the vision has customers. 

Government budgets are becoming contracts. Satellite fleets are becoming recurring revenue. AI is moving onboard spacecraft. Launch providers are raising billions to meet an expanding manifest.

The space economy is beginning to show up where Wall Street can measure it.

Defense Spending Is Becoming a Growth Engine for Space Stocks We’ll start with the national security angle.

Governments are waking up to the uncomfortable fact that space is the new strategic battleground.

Satellites provide battlefield intelligence, secure communications, missile warnings, navigation, targeting, and surveillance. 

Modern militaries would struggle to operate without them. Yet, that dependence also makes satellites targets.

China and Russia have spent years developing systems that could jam, disable, deceive, or destroy spacecraft. The U.S. government has repeatedly warned that losing access to orbital systems could cripple military operations on Earth.

Now Washington has publicly acknowledged its response.

Meink said the Space Force has weapons in orbit capable of defending American forces from hostile action. The exact systems remain classified, so investors should resist the temptation to guess which contractors built them.

Which Space Stocks Are Exposed to Defense Spending?  Instead, remember that this is a long-term arms race – one that favors nimble, responsive space companies with launch capacity, satellite imaging capabilities, and hardware manufacturing.

The usual suspects benefit here:

BlackSky and Planet Labs provide Earth intelligence. Rocket Lab (RKLB) offers launch, spacecraft, and space-system capabilities. Palantir (PLTR) helps military customers turn enormous streams of information into decisions. And traditional defense companies such as L3Harris (LHX) supply communications, sensors, electronic warfare, and command systems. We estimate national defense TAM in space is about $30- to $40 billion today. But as intelligence demand and geopolitical tensions escalate, it could easily double over the next decade.

And it’s just one vertical of the multi-faceted Space Economy…

Satellite Internet Is Expanding the Space Economy Another big vertical here is space-based communications because the entire communications industry is being rewritten from orbit.

The world is moving toward a space-powered internet: a global, always-accessible broadband network delivered from thousands of small satellites in low Earth orbit (LEO).

This is more than a theoretical future. It’s already in action:

Starlink now has over 10,000 satellites in orbit and serves 12 million users worldwide. Amazon Leo (formerly dubbed Project Kuiper) continues building out its constellation to support AWS and global internet. AST SpaceMobile (ASTS) is taking another route, building satellites that connect directly to ordinary smartphones without requiring a separate dish or terminal. That’s a major step up, especially considering that 2.2 billion people worldwide still lack reliable internet access, and billions more suffer from poor mobile coverage.

Not to mention, we still don’t have cell coverage on airplanes. And natural disasters like earthquakes, fires, and tsunamis often knock out cell coverage when we need it most.

The opportunity here extends beyond just the companies operating the constellations.

Every network needs antennas, radio-frequency chips, optical links, ground equipment, spectrum, cybersecurity, and a steady flow of replacement satellites.

A successful constellation is not a one-time hardware sale.

That’s why we think the total addressable market here is huge. We see it climbing toward $40 billion by 2035 – possibly much more if these constellations become the backbone for rural broadband, global telecom, and even cloud connectivity.

Orbital Data Centers Could Become the Space Economy’s Biggest New Market Here’s the vertical that didn’t exist when we first started writing about the space economy – and it may end up being the biggest of them all.

AI’s growth is running into hard physical limits on Earth. Data centers need enormous amounts of land, power, and water – and communities increasingly don’t want them nearby. Lawmakers in at least 14 states have introduced legislation to restrict new data center construction.

That has pushed companies toward a much bigger idea: Move some of the computing into orbit.

The most ambitious version involves large orbital data centers powered by solar energy and linked through laser communications.

Of course, that will take time. Launch remains expensive. Radiation damages electronics. Hardware is difficult to repair. And while space is exceptionally cold, engineers haven’t yet cracked efficient GPU cooling in orbit because there’s no air for convection.

The long-term race is already drawing some of the biggest names in technology and space. 

SpaceX has filed with the FCC to launch up to one million orbital data centers. Google has entered talks with SpaceX to expand its own space-based compute efforts. Anthropic has expressed interest in partnering on orbital AI capacity. And Jeff Bezos’ Blue Origin just asked the government for permission to launch more than 50,000 orbital data centers of its own.

Most recently, on Sept. 9, a consortium involving companies in France and the UAE committed $1 billion to a new 50-satellite constellation carrying radar, optical cameras, and other sensors.

BlackSky will serve as the exclusive provider of its very-high-resolution optical satellites. Mistral AI is involved on the model side to process information in orbit and deliver useful alerts within seconds.

Giant data centers can come later. The first commercial win may simply be making today’s satellites much smarter.

And that leads directly into one of the space economy’s most established markets: Earth observation.

Four More Space Economy Markets Investors Should Watch Defense, communications, orbital AI, and launch are the most visible parts of the space economy buildout.

They are far from the only ones.

Earth Observation: Turning Satellite Images Into Intelligence There’s Earth observation.

We’re entering the age of persistent planetary surveillance. Think:

Monitoring crop yields (for commodity traders) Tracking cargo ships (for logistics and supply chains) Detecting oil spills, deforestation, wildfires, and droughts Verifying carbon emissions and ESG compliance Governments, hedge funds, insurers, farmers, and climate groups all want this data.

PL and BKSY are two of the biggest players in this niche. They control massive constellations of satellites and sell high-frequency data with AI analytics on top.

Planet just reported record quarterly revenue of $116.1 million, up 58% year over year. Adjusted EBITDA reached $13.9 million, while backlog ended the quarter near $815 million. The company also raised its full-year revenue outlook.

BKSY’s revenue rose 50% to $33.3 million. Adjusted EBITDA turned positive at $4.7 million. And its space-based intelligence and AI-services unit produced record revenue before the company was even selected for the new $1 billion constellation.

This market is becoming a real-time intelligence business.

Lunar Infrastructure: Building a Commercial Economy Around the Moon Then there is the moon.

NASA’s Artemis program is building toward a sustained human and scientific presence beyond Earth. Private companies are developing landers, communications relays, navigation systems, and cargo services so the moon can eventually support:

Water-ice extraction Rocket-fuel production Scientific equipment Communications infrastructure Telescopes Deeper-space logistics Rocket Lab’s Photon spacecraft has already supported a mission to lunar orbit. And companies like Intuitive Machines (LUNR) are developing landers and the communications, navigation, and cargo systems needed to support repeat missions around the moon.

This remains a very early market.

But every commercial economy begins with infrastructure.

The moon will be no different.

In-Space Manufacturing: What Microgravity Makes Possible There’s also in-space manufacturing because… let’s face it… why make stuff on Earth when microgravity offers the perfect conditions for making certain things? Like:

ZBLAN fiber optics: cleaner fiber that carries data farther with less signal loss  Protein crystal growth: larger, more orderly crystals that make it easier to study proteins and design better drugs Semiconductors: more uniform materials for advanced chips and electronics Startups like Varda Space are building in-space factories. Redwire is printing tools on the ISS. In fact, Rocket Lab is already launching some of these missions.

Tiny TAM today – but potential for $10- to $20 billion by 2040.

Satellite Servicing: The Maintenance Layer of the Space Economy And then you have the whole satellite servicing market.

Satellites are expensive. They age, fail… and then crash, rendering them nothing more than junk. The solution therein?

Servicing and refueling in orbit ‘Tugboats’ for moving satellites Bots to clean up space debris This is like the equivalent of AAA for space. And we think it could be a $10-billion-plus market by the 2030s.

The Bottom Line: Space Stocks Are Starting to Look Like Real Businesses Put all this together – defense, communications, orbital compute, EO, infrastructure, manufacturing, servicing – and the total space economy TAM is already near $100 billion.

Depending on regulation and global policy, that number could stretch to unfathomable heights over the coming decades.

Now here’s the real kicker: outside of SpaceX, not many own this trade yet.

Planet Labs has a market cap of approximately $6 billion. AST SpaceMobile is right around $23 billion. And BlackSky is valued at about $870 million.

In terms of their addressable market, these are penny stocks with planetary potential.

Now, to be sure, not every company will win. Some will fizzle or get acquired. Some might crash and burn, literally.

But the winners will provide the foundational infrastructure for the next trillion-dollar economy. And as we saw during the early internet era, a single winner could 20X, 50X, even 100X in a decade.

So, the smartest approach here might be a simple one: buy a basket of them now. Don’t try to pick the single winner. Just be exposed.

Because if this space economy thesis plays out – and the signs are saying it’s already well underway – the upside will vastly outweigh any individual misfires.

There’s just one wrinkle to the basket approach.

For the first time, all the puzzle pieces I just described are being assembled under a single roof, by a single man.

Elon Musk took SpaceX public in the largest IPO in history. He merged it with xAI. And now, virtually every Silicon Valley insider, from his own biographer to the president of SpaceX herself, expects him to complete the consolidation with the biggest merger of all time.

The estimates around what it could be worth are staggering; bigger than AI, robotics, clean energy, and driverless cars combined.

And just like the space stocks in this piece, the biggest gains won’t come from owning the giant at the center. They’ll come from the small, little-known suppliers riding its coattails – including one that trades for just $15 a share.

I’ve laid out the full story – and the three steps to get positioned – right here.

P.S. Some of the biggest opportunities in a new industry can emerge long before most public-market investors gain access. Take SpaceX, for example. It started in a warehouse. Today, it launches more mass into orbit than every government space program on Earth combined.

I’m currently at the All-In Summit, where I’m sitting down with Jensen Huang and SpaceX’s Gwynne Shotwell behind closed doors to learn more. I don’t yet know which ideas I’ll come home with, but these conversations tend to be game-changing

As Jensen put it, a “second layer” is now forming beneath the AI Boom. It’s made up of smaller, private companies building the AI infrastructure this very boom relies on. One of them is a private company I see as the “Nvidia of Robotics.” And for a limited time, everyday investors can claim a stake in it with as little as $500.

But the window closes at midnight on Monday, Sept. 21. Get the company name and full details right here – for free – before it’s too late.

Planet Labs PBC Today

PL

Planet Labs PBC

$16.47 -0.22 (-1.34%)

As of 09/11/2026 03:58 PM Eastern

This is a fair market value price provided by Massive. Learn more.

$9.39▼

$51.76$32.78

Like a rocket that must eventually come back down to Earth after takeoff, space and satellite stock Planet Labs PBC NYSE: PL has plummeted from its heights. Through the end of May, PL had risen nearly 160%. The stock had reached a market capitalization of more than $18 billion, despite generating sales of only $307 million in the last 12 months at that point.

Shares have now declined even faster than they rose at the start of the year. Planet Labs’ 2026 gains have completely vanished, with shares now down roughly 15% year-to-date. Compared to its 2026 high, Planet Labs has fallen more than 60%.

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However, this move is more a function of a stock that had gotten ahead of itself, rather than one posting deeply disappointing financial performance. Amid this, Wall Street analysts are now forecasting a large rebound, indicating a potential opportunity going forward.

The Q1 Report That Turned the TidePlanet Labs recently posted its Q2 fiscal year 2027 (FY2027) earnings report, but understanding the path of this name requires going back one quarter. Its Q1 FY2027 report marked the point when the market began punishing the stock despite continued business growth.

In that Q1 report, Planet Labs posted revenue of over $94 million, up 42% year-over-year (YOY), and beat estimates by over $3 million. Its loss per share of 3 cents was better than expected. Its backlog surged 72% YOY to $906 million, and the firm raised its full-year revenue guidance. Despite this, shares tanked 26% the next day. Since then, the stock has plummeted by almost another 50%.

Trading at a forward price-to-sales (P/S) ratio of over 30x going into its report, posting anything other than massive beats equated to an untenable valuation. Investor expectations had gotten ahead of the company’s results, and shares have continued to fall as that valuation reset played out. The latest quarter provides a clearer picture of where the business and stock stand now.

Planet Labs Crushes Q2, But With a CaveatIn fiscal Q2 2027, Planet Labs’ financial performance was even stronger than in the prior quarter. Revenue soared over 58% YOY to a record $116 million, this time beating estimates by over $11 million. This was the firm’s highest revenue growth in four years. Additionally, the company swung from a loss per share of 7 cents in the prior year to earnings of 2 cents per share, well ahead of the expected 2-cent loss. The company also saw its Rule of 40 Score improve to 70, versus 41 last quarter and 29 a year ago. It calculates this by adding revenue growth to its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 12%.

However, there was a notable caveat to its strong quarter. Its sales outperformance was partially due to handing over a satellite to a customer during fiscal Q2, rather than its expected timeline of fiscal Q3. As timing rather than demand drove this, the company only slightly raised the low end of its full-year guidance. It now expects midpoint sales growth of 41.5%, up from 41% last quarter.

Meanwhile, its backlog fell 10% sequentially despite rising 11% YOY to $815 million, as new orders did not fully replenish deliveries. Despite posting many impressive metrics, shares fell more than 1% after the report. This further reflects how moderate earnings blemishes can cause negative reactions for this still high-multiple stock.

Analysts Eye Huge Rebound, But Planet Labs Still Isn't CheapPlanet Labs now trades at a forward P/S sales ratio near 12x. Notably, this figure has come down more than 70% from its highs, but it is not low by any means. For reference, Planet Labs' forward P/S ratio still ranks in the top five highest among nearly 200 industrial stocks in the Russell 1000 Index. Thus, although its valuation indicates less risk than in the past, in the grand scheme, risk is still palpable.

Planet Labs PBC Stock Forecast Today12-Month Stock Price Forecast:
$32.78
99.03% Upside

Hold
Based on 13 Analyst Ratings

Current Price$16.47High Forecast$50.00Average Forecast$32.78Low Forecast$12.30Planet Labs PBC Stock Forecast Details

However, Wall Street analysts are clearly bullish on the stock’s outlook, with the MarketBeat consensus price target of $32.78 implying upside of well over 90%. Additionally, the average of targets updated after its report is slightly higher, above $33.

Looking ahead, one key watch item will be Planet Labs' ability to convert its over $4 billion pipeline into orders. Within this, it classifies $1 billion as being "near-term," seeing potential to convert this portion in the coming quarters rather than years. With its backlog currently at $815 million, converting a significant percentage of its near-term pipeline could materially improve its backlog and, in turn, revenue visibility.

Planet Lab’s growth to this point has demonstrated its ability to succeed in the satellite and imaging market. However, whether this success will continue at a rate that satisfies markets is an entirely different question, and one filled with uncertainty. In turn, taking a cautious approach with this stock remains paramount.

Should You Invest $1,000 in Planet Labs PBC Right Now?Before you consider Planet Labs PBC, you'll want to hear this.

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Planet Labs PBC (PL - Free Report) has been on a downward spiral lately with significant selling pressure. After declining 29.7% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.

RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.

Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.

However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.

Why PL Could Bounce Back Before LongThe RSI reading of 25.37 for PL is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.

This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering PL in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 1.4% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.

Moreover, PL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Planet Labs lifted fiscal 2027 guidance after a Q2 beat, as its $4B-plus satellite-services pipeline matures and Owl investment accelerates.