Stock Market Today, March 20: Planet Labs Surges After Record Revenue and Upbeat Guidance
2026-03-20 17:54:35 ET
Planet Labs (NYSE:PL) , a provider of global, daily satellite imagery and geospatial solutions, closed Friday at $33.85, up 25.56%. The stock jumped after reporting record fiscal Q4 revenue, issuing upbeat multi-year guidance, and receiving analyst upgrades. Investors are watching AI-driven demand and backlog conversion. Trading volume reached 52.6 million shares, coming in about 318% above its three-month average of 12.6 million shares. Planet Labs IPO'd in 2021 and has grown 242% since going public.
The S&P 500 fell 1.50% to 6,507, while the Nasdaq Composite declined 1.98% to 21,654 as growth stocks came under pressure. Among aerospace & defense names, peer Spire Global closed at $12.23, up 0.25%, as investors reassessed satellite-data demand and recent contract wins across the sector.
Planet Labs reported Q4 earnings, with revenue rising 41% and the company achieving breakeven adjusted EPS, easily surpassing Wall Street’s expectations. Management guided for sales to grow by 39% in 2027, powered by a backlog that grew by 79% in fiscal 2026.
NASDAQ: PL
PL Trading
29.5% G/L:
$33.87 Last:
38,525,204 Volume:
$33.55 Open:
