Planet Labs (PL) Secures $100M Swedish Contract, Stock Rises 24.5% This Week
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 21h ago
0mins
Source: Fool
- Contract Signing: Planet Labs secured a military imaging services contract worth over $100 million with Sweden this week, with payments spread over multiple years, further solidifying its position in the government market.
- Stock Surge: Following this news, Planet Labs' stock jumped 24.5% this week, bringing its market cap to approximately $9 billion, reflecting strong market confidence in its long-term growth potential.
- Analyst Upgrade: Wedbush raised Planet Labs' price target from $20 to $28, with the optimistic outlook from analysts driving further stock price increases, indicating a positive market sentiment regarding its future performance.
- Financial Performance: Although Planet Labs generated $35 million in free cash flow over the past twelve months, its revenue of $282 million appears low relative to its current market cap, suggesting potential overvaluation risks for its stock.
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 15.41 USD with a low forecast of 10.90 USD and a high forecast of 20.00 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.
9 Analyst Rating
7 Buy
2 Hold
0 Sell
Strong Buy
Current: 28.280
Low
10.90
Averages
15.41
High
20.00
Current: 28.280
Low
10.90
Averages
15.41
High
20.00
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.





