Planet Labs (PL) Stock Surges On Major Defense Contracts

Shares of Planet Labs PBC (NYSE:PL) are soaring Tuesday morning after the satellite imaging company announced a series of major recent contract wins with global defense and intelligence agencies.

What To Know: The agreements include a €240 million contract funded by Germany, which incorporates a multi-year, eight-figure annual renewal for data and AI services.

In the U.S., the Defense Innovation Unit expanded its contract with Planet to provide AI-driven alerts for the Indo-Pacific Command. The company also secured a seven-figure expansion with the U.S. Navy for Pacific maritime surveillance and a separate seven-figure deal with NATO for persistent monitoring.

These wins follow Planet’s recent earnings call where leadership highlighted a strategic shift toward AI-enabled products. CEO Will Marshall noted that the “changing geopolitical landscape” is driving unprecedented interest.

Analyst Ratings: In recent analyst updates, sentiment on Planet Labs has been mixed. On June 30, Goldman Sachs shifted its stance, downgrading the stock from Buy to Neutral and setting a price target of $4.60. This move suggests a more cautious outlook on the company’s near-term performance.

In contrast, on June 24, Cantor Fitzgerald maintained its Overweight rating, viewing the stock favorably with a price target range of $6.30 to $8.50. Earlier in the month, on June 6, both Citigroup and Wedbush reiterated their positive outlooks, maintaining Buy and Outperform ratings, respectively, with price targets in the $5 to $7 range.

Price Action: According to data from Benzinga Pro, PL shares are trading higher by 4.58% to $6.38 Tuesday morning. The stock has a 52-week high of $7.72 and a 52-week low of $1.73.

Read Also: Planet Reports Financial Results for First Quarter of Fiscal Year 2026

How To Buy PL Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Planet Labs’ case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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