"Morgan Stanley raised its price target on Planet Labs to $35 from $26 while maintaining an Equal Weight rating. The firm cites record backlog of approximately $900 million as the primary support for growth visibility, alongside strong demand across Defense and Intelligence and traction in Satellite Services."
"Planet Labs has secured high-value government awards, including a $12.8M NGA Luno B contract for AI-enabled Maritime Domain Awareness, a $13.2M NRO renewal, a $13.5M NASA task order, and a €240M multi-year German government agreement."
"The company launched Pelican-3 and Pelican-4 via SpaceX on November 28, 2025 and acquired Bedrock Research to accelerate AI for remote sensing. A Google partnership to explore TPU-powered AI computing in space targets prototype launches in 2027."
Planet Labs PBC has experienced a remarkable stock recovery, gaining 812% over the past year. The stock rose from $4.00 to a 52-week high of $36.38. Morgan Stanley raised its price target to $35, citing a $900 million backlog and strong demand in Defense and Intelligence. Key drivers include significant government contracts and advancements in AI-enabled satellite technology. The company's revenue predictability is bolstered by a 361% increase in Remaining Performance Obligations, indicating robust growth potential despite near-term profitability pressures.
Read at 24/7 Wall St.
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