Yahoo

Planet Labs lifts revenue guidance on strong military demand: AlphaSpace

Explore stocks on Coinbase

Market Catalysts Host Julie Hyman uses Yahoo Finance's AlphaSpace platform to take a closer look at the latest stock moves occurring in Planet Labs ( PL ) shares after the satellite imaging company raised its full-year forecast.

00:00 Speaker A

shares have turned lower. Earlier they were higher, um by more than 10% in pre-market trading after the company reported its numbers. It's a satellite imaging firm, and the company's numbers, most of them look good. It raised its forecast for full year revenue, um raised its forecast for gross margin as well. Its second quarter results also beat estimates. It's third quarter is a little below in terms of the revenue forecast what analysts had been anticipating. Maybe that is what's going on here.

00:21 Speaker A

unclear exactly what is happening, but as we uh look at the stock, I did want to take a look at it at our out on our Alpha space platform versus some of the other space stocks and it's performed very well. So that's the other thing you have to put in context as you look at the stock kind of waning to some extent. You've got a Planet Labs here that has more than tripled um over the past year. and even though we've seen big gains for many of its competitors, none of them has been quite as big as we have seen for Planet Labs.

00:44 Speaker A

Even accounting for, you know, the enthusiasm around, for example, the SpaceX debut, SpaceX down here in the purple, which is of course has been pretty volatile since its IPO. So interesting that Planet Labs has been kind of the outlier to the upside.

Mobilize your Website
View Site in Mobile | Classic
Share by: