Planet Labs (PL) Shares Drop 10% Despite 216% Backlog Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2026
0mins
Should l Buy PL?
Source: Yahoo Finance
- Backlog Surge: Planet Labs' backlog skyrocketed by 216% to $734 million year-over-year, indicating strong demand from defense and corporate clients for its satellite imaging services, although recent stock declines reflect market concerns about valuation.
- Strong Earnings: The company reported a 33% year-over-year revenue increase to $81 million, yet its high price-to-sales ratio of 28 raises investor caution, suggesting potential volatility in stock prices as the market reassesses its value.
- Insider Selling Signal: CFO Ashley Johnson's $4 million stock sale may be perceived negatively by investors, contributing to concerns about the company's future prospects and adding pressure on the stock price.
- Market Environment Impact: Planet Labs shares fell 10% this week due to market turbulence surrounding Greenland tariffs, highlighting the vulnerability of speculative stocks despite overall market recovery, necessitating investor vigilance regarding market sentiment shifts.
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Analyst Views on PL
Wall Street analysts forecast PL stock price to fall
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 35.030
Low
12.30
Averages
18.93
High
22.00
Current: 35.030
Low
12.30
Averages
18.93
High
22.00
About PL
Planet Labs PBC is a provider of global, daily satellite imagery and geospatial solutions. It designs, builds, and operates the earth observation fleet of imaging satellites. It provides mission-critical data, advanced insights, and software solutions comprising agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to derive value from satellite imagery. Its satellite data and analytics reveal actionable insights regarding phenomena, such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Its daily stream of proprietary data and machine learning analytics, delivered over its cloud-native platform, helps companies, governments and civil society use satellite imagery to discover insights as change happens. Its digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics. Its products include Planet Monitoring, Planet Tasking, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Planet Labs Revenue Growth: Planet Labs reported revenue of $306 million for fiscal year 2026, with a backlog increase of 79% to $900 million, indicating its broad commercial applicability in the Earth observation sector and solidifying its market position.
- Space Economy Outlook: As significant capital flows into the burgeoning space economy, SpaceX's IPO will mark a milestone, with companies like Rocket Lab and Planet Labs poised to benefit, potentially driving their stock prices higher and showcasing the innovative potential of the space industry.
See More
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- Significant Backlog Growth: The company's backlog soared to $1.85 billion, reflecting a 73% year-over-year increase, indicating strong market demand for its services and confidence in future growth prospects.
- Planet Labs' Strong Performance: Planet Labs reported $306 million in revenue for fiscal year 2026, with its backlog growing 79% to $900 million, showcasing its commercial viability and wide-ranging applications in the Earth observation sector.
- Optimistic Space Economy Outlook: With SpaceX's IPO on the horizon, it is expected to catalyze the growth of the entire space economy, positioning companies like Rocket Lab and Planet Labs to benefit from heightened investor enthusiasm and potentially drive their stock prices higher.
See More
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- Space Spending Boom: The budget allocates $71.1 billion to the U.S. Space Force, representing a staggering 124% year-over-year increase, which presents potential market opportunities for satellite companies like Planet Labs, likely boosting their business prospects.
- Investment in Satellite Communications: The budget includes a 60% increase in satellite communications spending to $6.7 billion, directly benefiting Planet Labs, which has a competitive edge in this sector and stands to gain from increased demand.
- Funding for Space Control: The budget request features $21.6 billion for 'space control,' a 158% increase, indicating a shift in military spending towards companies providing space defense services, positioning Planet Labs favorably in this evolving market landscape.
See More
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- Redwire's Business Growth: Redwire has achieved a remarkable 370% growth over the past five years, focusing on manufacturing space equipment such as solar arrays and satellite systems, and is considered a safer investment than Rocket Lab with a price-to-sales ratio of 5.7.
- Acquisition of Edge Autonomy: Redwire's $925 million acquisition of Edge Autonomy adds long-range drone products to its portfolio, with analysts suggesting this move synergizes satellite communications with drone capabilities, potentially accelerating sales growth, despite some delays in revenue realization.
- Future Outlook: Analysts forecast Redwire's sales will grow by 41% to $472 million in 2026, although the actual revenue post-acquisition was only $335 million, indicating challenges in meeting growth targets; however, its 6x sales valuation positions it as one of the cheapest stocks in the space sector.
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