New York, May 23, 2026, 18:03 EDT
- Planet Labs ended Friday at $44.35, advancing 4.3%. Shares were up about 6.6% for the week.
- The NYSE will be closed Monday for Memorial Day. Trading resumes Tuesday.
- Planet’s fiscal first-quarter report is set for June 4, and investors are watching the stock after space-data shares posted a strong rally.
Planet Labs PBC closed up 4.3% at $44.35 on Friday, the last regular session ahead of the U.S. Memorial Day holiday. The satellite-imagery firm gained 6.6% this week, according to market data, climbing from a May 15 close at $41.62.
No Monday session means there’s no chance to reset the trade. The New York Stock Exchange shows Monday, May 25, as a 2026 Memorial Day holiday. Planet is on the calendar to post fiscal Q1 2027 earnings after the close on June 4.
The move was stronger than the wider market. SPY, the ETF tracking the S&P 500, added 0.4% Friday. QQQ, which follows the Nasdaq-100, also gained 0.4%. IWM, a Russell 2000 small-cap fund, rose 0.9%.
Planet has climbed lately as traders bet on quicker orders from government buyers and on AI making satellite images more practical for clients. Bulls are leaning on those ideas, and they’re what Wall Street will look for when earnings hit.
Planet’s latest annual results set new highs. The company posted fiscal fourth-quarter revenue of $86.8 million, up 41% year over year, and full-year revenue rose to $307.7 million, up 26%. Backlog reached about $900.4 million as of Jan. 31, compared to $503.7 million a year ago.
Planet CEO Will Marshall said in March the company saw “strong momentum in satellite services,” including work in Sweden. CFO Ashley Johnson said Planet posted its “first fiscal year of Adjusted EBITDA and free cash flow profitability.” Adjusted EBITDA excludes interest, taxes, depreciation and other items. Nasdaq
Planet stuck with its usual message in its latest operating update. On May 14, the company put out first-light images from its newest Pelican satellites, including shots from the Swedish Armed Forces’ first sovereign satellite. Marshall said the trio of new Pelicans brought “more capacity and a higher revisit rate.” Planet said there were now nine high-res, AI-enabled Pelicans in orbit. Business Wire
Europe is bringing in some smaller government contracts for Planet. The company’s Sinergise unit landed a two-year, seven-figure contract with the Czech Republic’s State Agricultural Intervention Fund, focused on satellite images and AI-based farm monitoring. A separate deal worth seven figures over two years with Greece is linked to the National Satellite Space Project there. “It’s moving from manual, reactive inspections to proactive, AI-enabled operations,” said Planet executive Diego Vanelli about the Czech contract. Business Wire
Competitive names traded solidly this week. BlackSky gained 7.2% Friday and Spire Global climbed 10.1%, so it wasn’t just Planet catching a bid. BlackSky, also in space intelligence, said in May it landed a seven-figure government subscription deal for Gen-2 mission work.
Wall Street is split on Planet. Wedbush’s Daniel Ives bumped his price target up to $50 from $40 and stuck with an outperform rating this month, TipRanks said. But New Street Research began coverage at sell with a $28 target, according to MarketScreener.
But risks are clear. Planet’s shares have rallied, so the next numbers need to prove that government demand is lifting revenue without much extra pressure on profits. The company forecast first-quarter revenue between $87 million and $91 million, adjusted EBITDA loss in a range of $3 million to $6 million, and capital spending for fiscal 2027 set at $80 million to $95 million. Any shortfall in growth, profit or cash would likely be a quick trigger for sellers to hit the stock.
Short week for markets, with the first big read coming Tuesday. Focus is turning to Planet, which has kept its stock close to highs as it heads into earnings on June 4. Investors will watch for more from management on Pelican launches, AI products, and updates on how the backlog is turning into sales.
