Planet Labs PBC (PL) Launches Pelican 12, Is The Stock Still Below Fair Value?

Planet Labs PBC (PL) is back in focus after the launch of its Pelican-12 high resolution satellite and a fresh NASA evaluation order for Tanager hyperspectral data.

For all the progress Planet Labs PBC is making with Pelican-12 and new government work, the share price tells a tougher near term story. The stock is down 18.1% on a 30 day share price return and 34.3% on a year to date share price return, a sharp pullback that contrasts with an almost flat 1 year total shareholder return and a very large 3 year total shareholder return that indicates earlier buyers have still done well overall.

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Planet Labs PBC now trades after a sharp pullback, while Pelican and Tanager keep pushing its story forward. Do you lean into the weakness today or wait for an even cheaper entry before the valuation work starts?

Most Popular Narrative: 57% Undervalued

Against a last close of $13.41, the most followed narrative on Planet Labs PBC pegs fair value at $31, a big gap that frames the stock as a high-risk, high-upside puzzle rather than a simple mispricing story.

The company can succeed and the investment can still fail. For the stock to become exceptional, the company probably has to become exceptional too, not merely good.

See why 61 investors see Planet Labs PBC as 57% undervalued.

Result: Fair Value of $31 (UNDERVALUED)

Still, the narrative around Planet Labs PBC can change quickly if large government contracts disappoint or if AI platforms reduce the value of owning proprietary imagery.

Find out about the key risks to this Planet Labs PBC narrative.

Another View: Market Pricing vs Fair Ratio For Planet Labs PBC

That user narrative paints Planet Labs PBC as materially undervalued at a fair value of $31. The preferred P/S snapshot tells a different story. The stock trades around 12.9x sales, while peers average roughly 0.7x and the fair ratio sits closer to 4.7x, which points to valuation risk if expectations cool.

For anyone weighing those differences, the next step is to see what the numbers imply if sentiment keeps anchoring closer to that P/S gap, rather than the narrative fair value, in our valuation breakdown See what the numbers say about this price — find out in our valuation breakdown..

Next Steps

Mixed messages around Planet Labs PBC can either paralyze you or push you to dig into the data yourself right now and form an independent stance based on 1 key reward and 2 important warning signs.

Looking for more Planet Labs PBC sized ideas?

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