Earth imaging satellite company Planet Labs (NYSE: PL) will be reporting earnings this Thursday after market close. Here’s what you need to know.
Planet Labs beat analysts’ revenue expectations last quarter, reporting revenues of $86.82 million, up 41.1% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Planet Labs a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Planet Labs’s revenue to grow 36.2% year on year, improving from the 9.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Planet Labs has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Planet Labs’s peers in the data & business process services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Fair Isaac Corporation delivered year-on-year revenue growth of 38.7%, beating analysts’ expectations by 9.1%, and CoStar reported revenues up 22.5%, in line with consensus estimates. Fair Isaac Corporation traded up 3.3% following the results while CoStar was down 5.1%.
Read our full analysis of Fair Isaac Corporation’s results here and CoStar’s results here.
There has been positive sentiment among investors in the data & business process services segment, with share prices up 10.4% on average over the last month. Planet Labs is up 25.1% during the same time and is heading into earnings with an average analyst price target of $35.50 (compared to the current share price of $48.20).
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