Planet Labs PBC (NYSE: PL) surged 25.04% during Thursday's intraday trading session, driven by a robust fiscal third-quarter earnings report and an upward revision of its full-year revenue guidance. The satellite imagery company reported breakeven adjusted earnings per share and revenue of $81.3 million, surpassing analyst estimates of $71.99 million.
The company also raised its FY26 revenue forecast to $297-$301 million, significantly higher than the previous range of $281-$289 million and above consensus estimates. CEO Will Marshall attributed the strong performance to increased demand for AI-enabled global monitoring solutions, including contracts with the National Geospatial-Intelligence Agency (NGA) and NATO. Additionally, Wedbush and Deutsche Bank raised their price targets on the stock, further boosting investor confidence.
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