The analysis notes that Planet Labs' stock had rallied ahead of SpaceX's market debut in June but pulled back after the massive IPO diverted investor attention from smaller space stocks. A $1.5 billion at-the-market stock offering in the same month further exacerbated its decline. Analysts project Planet Labs' revenue and adjusted EBITDA to grow at CAGRs of 35% and 115% respectively from fiscal 2026 to 2029, which could justify its valuation, though its outstanding share count has risen 36% since its market debut.