Why Planet Labs Stock Climbed 15.8% In March
Shares of Planet Labs (NYSE: PL) were up 15.8% in March, according to data from S&P Global Market Intelligence. The company operates a fleet of satellites that regularly capture images of Earth and sells the service for both commercial and government purposes. Investors have gotten ultra-bullish on the company over the past year, with the stock up nearly 1,000% in the last 12 months alone.
Here's why Planet Labs stock was rising once again this week, and whether you should consider adding it to your portfolio.
Planet Labs released its Q4 earnings in March, putting up stellar growth once again. Revenue grew 41% year over year to $87 million, while generating full-year free cash flow of $53 million, demonstrating the sustainability of its innovative orbital imaging service model.
Source Fool.com
