Planet Labs Stock (PL) Soars 30% as Wall Street Issues Slew of Upgrades

The stock of Planet Labs PL +30.12% ▲ is up 30% as analysts across Wall Street scramble to upgrade the commercial satellite company.

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Brokerages Wedbush, Citizens, and Clear Street are each out with Buy-equivalent ratings and price target increases on PL stock after the company reported better-than-expected financial results. Wedbush has slapped a $40 price target on the shares, which is still 21% higher than where the stock currently trades.

The rating upgrades and surging share price come after Planet Labs reported strong quarterly financial results. The company, which specializes in earth imaging, reported earnings of $2.3 million and sales of $86.8 million, both of whic surpassed analyst expectations.

Demand for Planet Labs’ Products

Looking ahead, Planet Labs issued bullish guidance, saying it expects fiscal year 2027 sales of $415 million to $440 million, significantly surpassing Wall Street forecasts that called for revenue of $380 million. Management said they are seeing increased demand for their products, particularly from governments.

With wars raging around the world, demand is spiking for the Earth imaging that Planet Labs offers through its satellite services. The company expects that demand to remain strong throughout this year and into 2027. PL stock has now gained early 70% so far in 2026.

Is PL Stock a Buy?

Planet Labs’ stock has a consensus Strong Buy rating based on nine Wall Street analysts. That rating is based on seven Buy and two Hold ratings issued over the last three months. The average PL price target of $31.93 implies 18.45% upside from current levels.

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