Stock Market Today, Sept. 4: Planet Labs Dips 1% Despite Earnings Beat, Full-Year Guidance Raise

ExpandNYSE: PLPlanet Labs PBCPremium FeatureMoneyball Superscore78/100Today's Change(-1.25%) $-0.23Current Price$18.12Key Data PointsMarket Cap$6.5BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$17.73 - $19.9652wk Range$6.25 - $51.76Volume32.1MAvg Vol10.6MGross Margin55.46%Planet Labs PBC (PL -1.25%), a daily satellite imagery and geospatial analytics provider, closed at $18.11, down 1.28%. Shares slipped after mixed premarket analyst updates, following Thursday's earnings beat and guidance raise. Trading volume reached 30.8M shares, coming in about 182% above its three-month average of 10.9M shares. Planet Labs PBC IPO'd in 2021 and has grown 83% since going public.How the markets moved todayThe S&P 500 (^GSPC -0.38%) fell 0.39% to 7,718, and the Nasdaq Composite (^IXIC -0.29%) slipped 0.29% to 26,507. Among aerospace & defense -- satellite-based earth observation and geospatial analytics peers, BlackSky Technology (BKSY -0.63%) closed at $20.50, down 0.63%, while Satellogic (SATL +0.22%) ended at $4.64, up 0.22%, underscoring a mixed session for the group.What this means for investorsIt was an excellent Q2 for Planet Labs as sales rose 58% and the company delivered a surprise positive adjusted EPS of $0.02 -- both above Wall Street's expectations. However, the stock slid 1% on mixed analyst price target changes and subsequent evaluations today.For the most part, Planet Labs' earnings looked strong, but its backlog growth of just 11% year over year may have helped keep the stock largely flat today. Furthermore, the company guided for Q3 sales to land between $101 million and $105 million -- well short of analysts' expectations of $114 million. While this would equal 27% sales growth at the midpoint, it'd be a large step back from Q2's outsize growth.I'm not racing out to buy shares of PL stock at 17 times sales. However, I believe the company could build a moat around its historical data and insights, especially as it continues to incorporate AI into its processes and looks for newer, leading-edge applications for its customers.Read NextSep 3, 2026 •By Robert IzquierdoPlanet Labs vs. Snowflake: Evaluating the Better High-Growth Stock to Buy for 2026Aug 25, 2026 •By Scott LevineCan You Invest in Axiom Space Pre-IPO? Details & AlternativesAug 13, 2026 •By Leo SunIs Planet Labs The Cheapest Stock In The Space Economy?Sep 4, 2026 •By Parkev Tatevosian, CFARigetti Computing Stock: Time to Buy This Quantum Computing Stock?Sep 4, 2026 •By John BromelsFrom Launch Party to Federal Probe: What Went Wrong With Tesla's Cybercab in 24 HoursSep 4, 2026 •By Emma NewberyStock Market Today, Sept. 4: Lululemon Plummets 17% After Slashing GuidanceAbout the AuthorJosh Kohn-Lindquist is a contributing Motley Fool stock market analyst covering consumer goods, industrials, and technology stocks. Previously, Josh was a senior mutual fund accountant at Gemini Fund Services. He holds a bachelor’s degree in business management from the University of South Dakota.TMFJorykoX@JorykoliStocks MentionedPlanet Labs PBCNYSE: PL$18.12(-1.25%)-$0.23Motley Fool Stock Advisor’s Latest PickGet Access---% Avg Return*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.