Planet Labs PBC (NYSE:PL) is one of the 12 best mid cap AI stocks to buy according to hedge funds. On January 29, Jeff Van Rhee of Craig-Hallum reiterated his Buy rating on Planet Labs PBC (NYSE:PL) and raised his price target. He raised the firm’s price target on the stock from $30 to $33, reflecting a further 52% upside from the current levels. This upside is in line with the highest Wall Street analyst target upside of 61.66%, based on 12 analysts covering the stock.
Earlier, on January 26, Planet Labs PBC (NYSE:PL) announced a major partnership with the Surveying and Mapping Authority of the Republic of Slovenia (GURS). As part of this agreement, the company will provide high-resolution tasking services and detailed satellite data to Slovenia’s civil public administration. This data will help plan cities and infrastructure, monitor forests, respond quickly to natural disasters, and track agricultural health. GURS will utilize the company’s high-resolution tasking services and high-cadence PlanetScope imagery to enhance its long-term planning and decision-making.
Tomaž Petek, Director-General of the Surveying and Mapping Authority of the Republic of Slovenia, commented:
“Our mission at GURS is to provide the highest quality geodetic and spatial data to support the prosperity and safety of the Republic of Slovenia. This agreement with Planet represents a significant leap forward in our national infrastructure. By integrating daily global scanning and high-resolution tasking into our workflows, we are providing our agencies with the tools needed for faster decisions during natural disasters and a more robust foundation for the long-term planning of our built and natural environments.”
Planet Labs PBC (NYSE:PL) is engaged in the design, construction, and launch of constellations of satellites. The company serves clients across the United States and internationally. Its satellites provide geospatial data that can be accessed through its online platform. The company also offers a hyperspectral imaging satellite named Tanager and an Earth Observation platform.
While we acknowledge the risk and potential of PL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PL and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
