Planet Labs (PL) Soars 43% on Upbeat Outlook, PT Hike

We recently published 10 Stocks Delivering Explosive 18-190% Gains. Planet Labs PBC (NYSE:PL) is one of the last week’s heavy gainers.

Planet Labs surged by 42.8 percent week-on-week to hit a new all-time high as investors loaded portfolios after posting an upbeat outlook for its business and earning a higher price target from an investment firm.

In an updated report earlier in the week, Planet Labs PBC (NYSE:PL) said that it was looking at revenues between $297 million and $301 million for the full fiscal year of 2025, higher than its earlier forecast of $281 million to $289 million.

The guidance followed strong results in the third quarter of the year, during which revenues jumped by 32.4 percent to $81.2 million from $61.3 million in the same period last year, beating its earlier guidance of $71 million to $74 million.

“We delivered a strong third quarter, marked by continued momentum in the business, accelerated revenue growth, and excellent progress on our profitability goals,” said Planet Labs PBC (NYSE:PL) Chairman and CEO Will Marshall.

However, net loss nearly tripled to $59 million from $20 million in the same comparable period.

Also for the full fiscal year, Planet Labs PBC (NYSE:PL) expects to swing to a positive adjusted EBITDA of $6 million to $8 million from an earlier guidance of adjusted EBITDA loss of up to $7 million.

In other developments, the company received a price target upgrade of $20 from Morgan Stanley, marking a 344 percent jump from its previous price target of $4.50. It also maintained an “equal weight” rating for the stock.

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Disclosure: None. This article is originally published at Insider Monkey.