Shares of Planet Labs PBC (NYSE: PL) have demonstrated a notable uptick, climbing 6.96% in premarket trading to reach $5.84. This surge follows a previous session increase of 13.01%, closing at $6.17. The company, a leading provider of Earth observation data, currently holds a market capitalization of $1.63 billion and an ST score of 57 within the Aerospace & Defense sector.
In comparison, peer companies such as DCO and DRS have achieved higher scores of 64 and 62, respectively. For additional comparable stocks with a market value of over $300 million and even higher ST scores, investors may click on our ST screener link.
Working along with the European Space Agency
Planet Labs announced the signing of a multi-year deal with the European Space Agency (ESA), reinforcing its position as a key contributor to the Copernicus Contributing Missions. Under this contract, Planet Labs will integrate its commercial satellite data with ESA’s Sentinel satellite system to enhance the data offerings for Copernicus services.
Through this collaboration, Planet Labs will provide near-daily PlanetScope satellite imagery along with high-resolution SkySat imagery. These datasets will complement ESA’s existing portfolio, offering geospatial analysts a broader and more diversified range of resources to meet various analytical needs. ESA’s dedication to integrating commercial satellite data from up-and-coming New Space firms is demonstrated by this arrangement.
Enhancing an Established Partnership
Over the years, Planet Labs and ESA have remained close partners. The company’s PlanetScope and SkySat satellite constellations will continue to serve the Copernicus Program as a Contributing Mission with this new contract. Europe continues to lead the world in Earth observation innovation, and Planet Labs sees this sustained investment in commercial space technology as evidence of that.
Increasing Commercial and Research Uses
Prior to this agreement, Planet Labs collaborated with ESA for over a decade, contributing to both the Copernicus initiative and the ESA Third Party Mission program. This partnership has enabled researchers and businesses within ESA and European Commission Member States to leverage Planet Labs’ satellite imagery for a variety of applications, including land use monitoring and climate change research. Through continued cooperation, Planet Labs and ESA aim to drive advancements in scientific research and commercial space services.