#7 - Planet Labs (NYSE:PL)
Orbital imaging may not have the same cache as a lunar landing, but it does have many applications. That's why Planet Labs PBC (NYSE: PL) should get a closer look. The company uses small satellites that take detailed images of Earth that they sell to both civilian and defense customers. It is growing revenue year-over-year.
In 2023, the company announced it would partner with the U.S. Geospational Intelligence Foundation's 2023 GEOINT Symposium to use AI to enhance the detail in its images. That doesn't make PL stock an AI stock. In fact, the company is not yet profitable, and that's one of the reasons the stock is last on this list.
Nevertheless, it's an interesting stock to consider if you're a speculative investor looking for a moonshot in the emerging space stocks sector.
About Planet Labs PBC
Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.
Read More - Current Price
- $4.04
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $4.33 (7.1% Upside)
Now that you know some of the space stocks to consider, we'll close this presentation by explaining the size of the opportunity. In 2021, the global space industry was valued at $414.8 billion. Morgan Stanley (NYSE: MS) is forecasting the global space industry could be worth $1 trillion by 2040. If the space race intensifies, the value will likely be much larger than that.
But the last couple of years have reminded investors that it costs money to build rockets and the rest of the infrastructure that will form the foundation of a space economy. This is to say that the growth in this sector is not likely to follow a straight line.
Even if you're not ready to start a position today, you can use the MarketBeat watchlist tool as a shortcut for your research. You'll be alerted by email or text whenever there's breaking news involving one of the stocks on your list. It's a great way to confirm your thoughts about an investment before committing capital.
More Investing Slideshows:
