Planet Labs (PL) Stock Tops Industrials Leaderboard With 71% YTD Gain

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TLDR

• Planet Labs (PL) is the top-performing large-cap industrial stock of 2026, up 71.50% YTD
• Q4 fiscal 2026 revenue came in at $86.8M, beating the $77.81M forecast by 11.55%
• Backlog grew 23% sequentially and more than doubled year-over-year
• Goldman Sachs raised its price target to $18, maintaining a Neutral rating
• Needham raised its target to $40, keeping a Buy rating

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Planet Labs (PL) has had a standout start to 2026. The satellite imaging company is the best-performing large-cap industrial stock year-to-date, with a gain of 71.50%.

Planet Labs PBC, PL

That tops a strong field. Bloom Energy (BE) is second at 62.65%, followed by Modine Manufacturing (MOD) at 58.39%, Vertiv Holdings (VRT) at 58.01%, and Comfort Systems USA (FIX) at 50.89%.

The rally isn’t just momentum. It’s backed by real results.

Planet Labs reported Q4 fiscal 2026 revenue of $86.8 million, beating the consensus estimate of $77.81 million. That was an 11.55% upside surprise. The company also beat earnings per share estimates by $0.02.

Strong Demand From Government Sectors

The outperformance was driven by the defense and intelligence sector, along with civil government clients. The company also added new customer wins during the quarter.

Goldman Sachs analyst Noah Poponak noted the results came in above consensus across key metrics. He pointed to strong demand signals and investments being made to meet that demand.

Despite the strong quarter, Goldman kept its Neutral rating. Poponak flagged that profitability timelines remain unclear in the medium term, even as valuation has moved up sharply.

The stock has returned 793% over the past year, a move that has raised questions about how much upside is already priced in.

Backlog and Guidance

The company’s backlog increased 23% sequentially. Year-over-year, it more than doubled. That kind of backlog growth points to sustained demand going into fiscal 2027.

Planet Labs issued fiscal 2027 guidance with revenue projected above consensus. However, EBITDA guidance came in below what analysts had expected.

That split — strong top-line outlook, weaker profitability forecast — explains some of the caution from Wall Street. Analysts do not expect the company to be profitable in the coming fiscal year.

The company posted a loss per share of $0.80 over the last twelve months.

Needham took a more upbeat view. The firm raised its price target from $35 to $40 and kept a Buy rating, citing confidence in the company’s financial trajectory.

Goldman Sachs also lifted its target, moving from $16.40 to $18.00, while staying Neutral.

For Q1 fiscal 2027, Planet Labs is guiding revenue 5% above consensus estimates.

The stock carries a Quant rating of Hold at 3.48, placing it in line with several other top performers on the industrials leaderboard this year.

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