Planet Labs price target raised to $34 from $29 at Clear Street

Clear Street raised the firm’s price target on Planet Labs (PL) to $34 from $29 and keeps a Buy rating on the shares. As evidenced by FY26 backlog growth of 79% year-over-year to $900M, Planet is “a prime beneficiary of AI,” which is increasingly hinging on proprietary data sources like PlanetScope, the analyst tells investors following the company’s Q4 report.