Planet Labs Stock Falls As Higher Yields Pressure Space Names Despite European Space Agency Win

Planet Labs PBC (NYSE:PL) shares fell 2.26% in early trading on Thursday, with the stock continuing its multi-session decline. The move came without an apparent fresh negative company-specific catalyst. Planet shares declined even after subsidiary Sinergise secured a 12-month European Space Agency pilot focused on disaster-response automation. Higher Yields Weigh On Space Stocks U.S. inflation data pushed bond yields higher and reinforced expectations that interest rates could remain elevated. Higher rates tend to pressure growth stocks because investors discount future cash flows more heavily. They can also tighten financing conditions for capital-intensive industries such as satellite communications and space infrastructure. Planet’s latest decline therefore appears more closely tied to the broader risk-off move and ongoing weakness across growth stocks than to new company-specific news. ESA Pilot Provides Positive Operational Update Planet’s Sinergise subsidiary was selected for a 12-month European Space Agency-backed Slovenia Space Resilience Node pilot. The project will connect wide-area change detection with high-resolution satellite tasking to support faster disaster response. The initial use case focuses on wildfire management across Slovenia’s roughly 20,000 square kilometers, with potential applications for floods and landslides. Latest Earnings Snapshot Planet Labs reported fiscal second-quarter 2027 results on Sept. 3, with adjusted EPS of 2 cents beating the 2-cent loss estimate. Revenue rose 58% year over year to $116.05 million, topping the $104.12 million consensus estimate. The company raised the low end of its full-year revenue outlook to $430 million from $425 million, keeping the high end at $441 million. However, third-quarter revenue guidance of $101 million to $105 million came in below the $114.33 million consensus estimate. Technical Outlook Remains Weak Planet Labs remains under technical pressure, trading 19.2% below its 20-day SMA and 29.2% below its 50-day SMA. The RSI of 30.87 sits near oversold territory, while the MACD remains below its signal line, pointing to continued bearish momentum. The stock formed a death cross in August when the 50-day SMA fell below the 200-day SMA, reinforcing the weaker longer-term trend. PL has fallen 6.36% over the past 12 months and sits at just 7.3% of its 52-week range, placing it near its yearly lows. Key Resistance: $14.00 — a break above could signal improving momentum. Key Support: $12.00 — a move below could open the door to further weakness. Analyst Outlook Mixed The stock carries a Buy consensus with an average analyst price forecast of $36.20. Analysts’ ratings for PL have been somewhat mixed over the past few months. In the most recent analyst action, Barclays initiated coverage with an Equal-Weight rating and set a target price of $17.00 on Oct. 9. Prior to that, Citizens maintained a Market Perform rating, while Needham maintained a Buy rating but lowered the target price from $53.00 to $40.00 on Sept. 4. PL Stock Price Activity: Planet Labs shares are trading lower by 2.26% at $13.81 at the time of publication on Thursday, according to Benzinga Pro data. Read Also: Rocket Lab Stock Plunges Nearly 10% After Another Neutron Launch Setback Photo: PJ McDonnell / Shutterstock