Planet Secures 8-Figure Contract Renewal with Global Defense and Intelligence Client
Written by Emily J. Thompson, Senior Investment Analyst
Source: Businesswire
Updated: Nov 05 20250mins
Contract Renewal: Planet Labs PBC has announced an 8-figure contract renewal with a long-term international defense and intelligence customer for high-resolution imagery, enhancing their monitoring and intelligence capabilities.
Customer Demand: The company is experiencing significant demand from global defense and intelligence sectors, which rely on Planet's high-resolution satellite imagery for timely and actionable insights.
Growth in Defense Sector: This contract renewal is part of Planet's ongoing growth in the defense sector, following previous agreements with various government and military organizations, including NATO and the U.S. Department of Defense.
Company Overview: Founded in 2010 by former NASA scientists, Planet operates the largest commercial fleet of imaging satellites, providing critical geospatial solutions to a diverse range of industries and government agencies.
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Analyst Views on PL
Wall Street analysts forecast PL stock price to rise 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: 12.940
Low
10.90
Averages
15.41
High
20.00
Current: 12.940
Low
10.90
Averages
15.41
High
20.00
Clear Street
Greg Pendy
Buy
maintain
$12 -> $14
2025-12-04
New
Reason
Clear Street
Greg Pendy
Price Target
$12 -> $14
2025-12-04
New
maintain
Buy
Reason
Clear Street analyst Greg Pendy raised the firm's price target on Planet Labs to $14 from $12 and keeps a Buy rating on the shares. The firm is applying a higher multiple to its raised FY28 revenue projection of $445M, up from $422M, ahead of the company's fiscal Q3 earnings report due after market close on December 10.
Citizens JMP
Trevor Walsh
Outperform -> Market Perform
downgrade
2025-10-21
Reason
Citizens JMP
Trevor Walsh
Price Target
2025-10-21
downgrade
Outperform -> Market Perform
Reason
Citizens JMP analyst Trevor Walsh downgraded Planet Labs to Market Perform from Outperform without a price target. The firm cites valuation for the downgrade with the shares up 29% in the past month alone. In addition, at last week's investor day, management provided a "somewhat lackluster" long-term financial outlook despite the material business model shift toward satellite services and additional fleet capacity build-out, the analyst tells investors in a research note. Citizens the day left it "with more questions than answers."
Deutsche Bank
Buy
upgrade
$10 -> $16
2025-10-21
Reason
Deutsche Bank
Price Target
$10 -> $16
2025-10-21
upgrade
Buy
Reason
Deutsche Bank raised the firm's price target on Planet Labs to $16 from $10 and keeps a Buy rating on the shares.
Needham
Buy
maintain
$12 -> $16
2025-10-20
Reason
Needham
Price Target
$12 -> $16
2025-10-20
maintain
Buy
Reason
Needham raised the firm's price target on Planet Labs to $16 from $12 and keeps a Buy rating on the shares. Planet Labs management highlighted the company's strategic focus on satellite service deals and set new financial targets driven by its renewed revenue growth, the analyst tells investors in a research note. Needham models improving fundamentals through FY25 and FY26 as cost controls produce increased profitability.
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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
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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.
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