Planet Labs Stock Surges As Piper Sandler Sees 90% Upside

Piper Sandler analyst Weston Twigg initiated Planet Labs PBC (NYSE:PL), an Earth-imaging company, with an Overweight rating and a price target of $10, implying an upside of 89.75%.
Twigg states that the company is leading the "Digitization of Everything via its unique earth imagery data."
Planet Labs has a constellation of over 200 satellites, capturing every point of land on earth daily. It provides daily satellite data that helps businesses, governments, researchers, and journalists understand the physical world and take action.
The analyst believes the company is an "early segment leader, with a complete constellation and proprietary data platform, providing it with a significant competitive advantage."
Price Action: PL shares are trading higher by 4.56% at $5.50 during the premarket session on Friday.