Why Planet Labs Stock Popped Today

By Rich Smith – Mar 2, 2026 at 12:46PM ESTKey PointsPlanet Labs began life working for "the public good."It's evolved into more of a defense contractor providing satellite images for the military.Planet Labs (PL +9.36%) stock jumped 8.6% through 12:15 p.m. ET Monday -- and it's not hard to figure out why. Over the weekend, war broke out among the United States, Israel, and Iran. Most denizens of the Interwebs have been glued to Google News and X over the weekend, searching for updates on what's happening. More professional analysts, seeking an eagle's eye view of developments, are likely turning to Planet and its fleet of approximately 200 Earth observation satellites for clear digital photographs of what's happening on the ground. Image source: Planet Labs. Right place, right time When Planet Labs first announced its IPO back in 2021, the company portrayed itself as something of a space hippie stock -- to the extent it actually chose "public benefit corporation" as its corporate form. Boasting a constellation of satellites capable of covering every inch of Earth's landmass at least once per day, Planet would monitor the progress of global warming, help fight forest fires, and "generate social and public good, and ... operate in a responsible and sustainable manner." While laudable goals, this didn't work out so well for Planet's profitability. More recently, Planet has evolved to focus more on winning defense and security contracts. Not only has this done wonders for Planet's income statement. It's also put Planet in the right place, at the right time, to help everyone from politicians to generals to investors understand what's going on in the Persian Gulf right now. ExpandNYSE: PLPlanet Labs PBCToday's Change(9.36%) $2.26Current Price$26.40Key Data PointsMarket Cap$8.2BDay's Range$23.71 - $26.9252wk Range$2.79 - $30.90Volume247KAvg Vol13MGross Margin57.95% Is Planet Labs stock a buy? While still not technically "profitable," Planet generated more than $40 million in positive free cash flow last year, a number that's bound to increase as demand for the company's satellite images grows. Priced at more than 205 times FCF, Planet Labs mayn't be a cheap stock. But it's certainly got potential.Read NextJan 31, 2026 •By Adé HennisPlanet Labs PBC Director Sells 47K Shares Worth Over $1 MillionJan 23, 2026 •By Brett SchaferWhy Planet Labs Stock Fell This WeekJan 12, 2026 •By Rich SmithWhy Planet Labs Stock Popped TodayJan 10, 2026 •By Rich SmithThe Best Space Stock to Invest $1,000 in Right NowJan 6, 2026 •By Eric VolkmanWhy Planet Labs Stock Powered Nearly 66% Higher Last MonthDec 11, 2025 •By Rich SmithWhy Planet Labs Stock Just RocketedAbout the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedPlanet Labs PBCNYSE: PL$26.40(+9.36%)+$2.26*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.