We recently published 10 Stocks Delivering Explosive 18-190% Gains. Planet Labs PBC 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 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 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 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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This article is originally published at Insider Monkey.
