Planet Labs PBC is trading at $50.16 (up 8%) after the company announced a key operational milestone ahead of its earnings report later this week.
- Planet announced today that its Pelican-11 tech demonstration satellite has shipped to Vandenberg Space Force Base for launch on a SpaceX Transporter mission.
- Pelican-11 is a testbed for the company's next-generation high-resolution (30 cm) imagery fleet, representing a tangible step in its technology roadmap.
- The move also comes as Wedbush analyst Daniel Ives raised his price target on the stock to $50, and ahead of the company's Q1 earnings release scheduled for June 4.