Planet Labs (NYSE: PL) Stock Soars 468% Yearly, Secures Nine-Figure Military Contract

Written by Emily J. Thompson, Senior Investment Analyst

PL+3.38%

Source: NASDAQ.COM

Updated: 1h ago

0mins

Source: NASDAQ.COM

Significant Revenue Growth: Planet Labs reported a record revenue of $81 million in Q3 of fiscal 2026, reflecting a 216% year-over-year increase, indicating strong demand and market appeal for its satellite data services.
Contract Expansion: The multiyear nine-figure deal with Sweden's military marks the third major satellite services contract in the past 12 months, further solidifying its market position in defense and climate monitoring.
Improving Financials: The company has achieved positive adjusted EBITDA and is slowing its cash burn, and while it has not yet reached GAAP profitability, the outlook remains optimistic as recurring revenue continues to grow.
Market Risks and Opportunities: While geopolitical instability may drive demand for satellite data, it also poses risks, particularly due to the reliance on a few lucrative contracts for revenue, necessitating cautious evaluation of potential volatility by investors.

$26.94+Infinity%1D

Analyst Views on PL

Wall Street analysts forecast PL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PL is 18.93 USD with a low forecast of 12.30 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

11 Analyst Rating

8 Buy

3 Hold

0 Sell

Moderate Buy

Current: 26.060

Low

12.30

Averages

18.93

High

22.00

Current: 26.060

Low

12.30

Averages

18.93

High

22.00

Goldman Sachs

Neutral

maintain

2026-01-20

Reason

Goldman Sachs

Price Target

AI Analysis

2026-01-20

maintain

Neutral

Reason

Goldman Sachs raised the firm's price target on Planet Labs to $16.40 from $12.30 and keeps a Neutral rating on the shares. The firm's Q4 Aerospace & Defense preview highlights favorable aerospace OE conditions, with supply below demand, while aftermarket growth outpaces global ASMs with strong pricing supporting margins, the analyst tells investors in a research note. Business jet demand remains solid amid tight supply, defense hardware growth is improving though margins face risk from shifting contracts, defense tech momentum emphasizes faster, commercial-style providers, and federal IT obligations continue under pressure, the firm says.

Clear Street

Greg Pendy

Buy

maintain

$16 -> $22

2025-12-29

Reason

Clear Street

Greg Pendy

Price Target

$16 -> $22

2025-12-29

maintain

Buy

Reason

Clear Street analyst Greg Pendy raised the firm's price target on Planet Labs to $22 from $16 and keeps a Buy rating on the shares. The firm says the company is positioned for 20%-plus sales growth and margin expansion by pairing its proprietary satellite imagery with advanced artificial intelligence. Planet Labs will reinvest its cash flow into growth over the next two years while maintaining profitability, "marking a clear inflection in business maturity and a path to achieving the Rule of 40," the analyst tells investors in a research note. Clear Street says "Rule of 40" data and software names are typically rewarded with premium valuations.

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Goldman Sachs

Neutral

maintain

2025-12-16

Reason

Goldman Sachs

Price Target

2025-12-16

maintain

Neutral

Reason

Goldman Sachs raised the firm's price target on Planet Labs to $12.30 from $10.90 and keeps a Neutral rating on the shares. The firm cites the company's better than expected Q3 results, along with Plant Labs having won work with the National Geospatial-Intelligence Agency, NASA and the U.S. Navy in recent months, the analyst tells investors in a research note. Planet Labs has also partnered with Google to deploy prototype satellites for putting data centers in space, the firm added.

Morgan Stanley

Kristine Liwag

Equal Weight

maintain

$20

2025-12-12

Reason

Morgan Stanley

Kristine Liwag

Price Target

$20

2025-12-12

maintain

Equal Weight

Reason

Morgan Stanley analyst Kristine Liwag raised the firm's price target on Planet Labs to $20 from $4.50 and keeps an Equal Weight rating on the shares. A fiscal Q3 beat and raise, citing strong Defense and Intelligence traction, early satellite services contributions and momentum across multi-year programs support the company's strategic shift, the analyst tells investors.

About PL

Planet Labs PBC is a provider of global, daily satellite imagery and geospatial solutions. It designs, builds, and operates the earth observation fleet of imaging satellites. It provides mission-critical data, advanced insights, and software solutions comprising agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to derive value from satellite imagery. Its satellite data and analytics reveal actionable insights regarding phenomena, such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Its daily stream of proprietary data and machine learning analytics, delivered over its cloud-native platform, helps companies, governments and civil society use satellite imagery to discover insights as change happens. Its digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics. Its products include Planet Monitoring, Planet Tasking, and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.