Planet Labs Poised for 'Major Momentum' With Space Data Applications, Wedbush Says

MT Newswires Live01-28

Planet Labs (PL) is poised for "major momentum" in 2026 and in coming years, Wedbush said in a Tuesday note.

Increasing defense budgets and the need by many countries to reduce their reliance on the US is creating an opportunity for the company to provide its satellite systems for real-time maritime and situational awareness, Wedbush analysts said.

As a example, Planet Labs recently won a $7.5 million contract sole source renewal with the US Navy for vessel detection and monitoring over key areas of interest in the Pacific Ocean, with the company as the only provider of maritime domain awareness through its satellite fleet, the analysts said.

Use cases for space data applications will increase as the company continues to integrate AI into applications, and it is "well positioned" to take advantage of the fast-growing market and win over customers in government, particularly defense and intelligence agencies, according to the note.

Wedbush maintained its outperform rating on the stock and raised it price target to $30 from $28.

Price: 27.82, Change: +1.95, Percent Change: +7.54

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