• Wedbush raises Planet Labs (NYSE:PL) price target to $28 after a significant agreement with the Swedish Armed Forces.
• The deal, worth nine figures, highlights the growing demand for Planet Labs' satellite imagery and data solutions in the government sector.
• Planet Labs' stock experiences a nearly 12% increase, indicating strong investor confidence in its expanding customer base and innovative space-based data services.

Planet Labs (NYSE:PL) is a company that specializes in providing satellite imagery and data solutions. It plays a crucial role in offering high-resolution data and intelligence products to various sectors, including government and military. The company has been gaining attention due to its innovative use of space-based data and its expanding customer base, particularly in the government sector.

On January 13, 2026, Wedbush set a new price target of $28 for Planet Labs, which was trading at $26.02 at the time. This target indicates a potential 7.62% increase from the current price. The adjustment in the price target follows a significant development for Planet Labs, as highlighted by TheFly. The company recently secured a substantial multi-year agreement with the Swedish Armed Forces, which has positively impacted its stock price.

The agreement with the Swedish Armed Forces is a nine-figure deal that involves providing satellites and space-based data to enhance Sweden's military and security operations. This development led to a nearly 12% increase in Planet Labs' share price, reaching approximately $25. The deal underscores the growing demand for Planet Labs' services in the government sector, both in the US and internationally.

Wedbush analysts have responded to this development by raising their price target for Planet Labs from $20 to $28, maintaining an 'Outperform' rating. They emphasize the increasing demand from government customers and the expanding use cases related to artificial intelligence as key factors driving their positive outlook. The stock is currently priced at $25.95, reflecting a 2.00% increase, with a market capitalization of approximately $7.85 billion.

Planet Labs' stock has shown significant volatility, with a 52-week high of $26.55 and a low of $2.79. The company's trading volume stands at 4,980,276 shares, indicating active investor interest. The recent developments and positive analyst outlook suggest that Planet Labs is well-positioned to capitalize on the growing demand for satellite data and intelligence solutions.