Stock Track | Planet Labs PBC Soars 5.07% as $230M AI-Powered Satellite Contract Boosts Outlook

Stock Track

Feb 01, 2025

Planet Labs PBC (NYSE:PL), an Earth imaging company with a fleet of AI-powered satellites, saw its stock soar 5.07% in Friday's intraday trading session. This surge followed an analyst upgrade and a recent contract win that highlighted the company's growing momentum in the AI and satellite imaging space.

On January 30th, Craig-Hallum upgraded Planet Labs to "Buy" from "Hold" and raised the stock's price target to $7 from $3.50. The brokerage firm cited the company's recent 7-year, $230 million contract win as a significant driver for the upgrade. Analysts believe this substantial contract is heavily front-loaded and completely incremental, opening the door for potential material upward revisions to Planet Labs' 2025 financial model.

Additionally, Planet Labs recently launched its next-generation Pelican-2 satellite on January 14th, further solidifying the company's position in the AI-powered satellite imaging market. The $230 million contract win is seen as a validation of the Pelican line's capabilities, with Craig-Hallum noting that such a significant commitment underscores the confidence in Planet Labs' technology and solutions.

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This surge followed an analyst upgrade and a recent contract win that highlighted the company's growing momentum in the AI and satellite imaging space.</p>\n\n<p>On January 30th, Craig-Hallum upgraded Planet Labs to \"Buy\" from \"Hold\" and raised the stock's price target to $7 from $3.50. The brokerage firm cited the company's recent 7-year, $230 million contract win as a significant driver for the upgrade. Analysts believe this substantial contract is heavily front-loaded and completely incremental, opening the door for potential material upward revisions to Planet Labs' 2025 financial model.</p>\n\n<p>Additionally, Planet Labs recently launched its next-generation Pelican-2 satellite on January 14th, further solidifying the company's position in the AI-powered satellite imaging market. 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