Planet Labs (NYSE:PL) Sees Price Target Increase by Wedbush Following Major Government Deal

Core Insights - Planet Labs specializes in satellite imagery and data solutions, serving various sectors including government and military, and is gaining attention for its innovative use of space-based data [1] Group 1: Recent Developments - On January 13, 2026, Wedbush set a new price target of $28 for Planet Labs, indicating a potential 7.62% increase from its trading price of $26.02 at that time [2] - Planet Labs secured a substantial multi-year agreement with the Swedish Armed Forces, a nine-figure deal aimed at enhancing Sweden's military and security operations, which contributed to a nearly 12% increase in its share price [3][6] - The stock price reached approximately $25 following the announcement of the agreement, reflecting strong investor confidence in the company's expanding customer base [3][6] Group 2: Analyst Outlook - Wedbush analysts raised their price target for Planet Labs from $20 to $28, maintaining an 'Outperform' rating, citing increasing demand from government customers and the expanding use of artificial intelligence as key drivers [4] - The stock is currently priced at $25.95, with a market capitalization of approximately $7.85 billion, indicating active investor interest [4][5] Group 3: Market Performance - Planet Labs' stock has shown significant volatility, with a 52-week high of $26.55 and a low of $2.79, and a trading volume of 4,980,276 shares [5]