Planet Labs Bounces 2.3% After Q1 Earnings Beat, Analysts Raise Price Targets to $53

According to analyst reports on Friday, Planet Labs' stock bounced back 2.3% overnight after the company reported Q1 revenue of $94.2 million, beating Wall Street's consensus estimate of $90.13 million. The company also posted an adjusted loss of $0.03 per share, better than the predicted $0.04 loss, and raised its Q2 revenue guidance to $102 million–$107 million.

Multiple firms raised their price targets following the earnings beat. Needham increased its target to $53 from $40, citing strong financial performance and rising demand for Earth observation data amid global tensions. Clear Street and Northland similarly raised their targets to $53 and $50, respectively, highlighting 68% growth in Planet Labs' Defense & Intelligence business. However, investors expressed concern about a $1.5 billion at-the-market equity program announced to fund future satellite deployments, as it could dilute existing shareholders.