Planet Labs (PL) stock saw a 3% increase after an analyst raised the price target by over 30%. Needham’s Ryan Koontz now values the stock at $16 per share, up from $12, citing strategic satellite services focus and expected growth in defense budgets as reasons for the change. Despite revenue growth, Planet Labs remains unprofitable and is considered a risky investment. The Motley Fool Stock Advisor team did not include Planet Labs in their top 10 stock picks, emphasizing the need for caution when investing in the company.

Read more at Nasdaq: Why Planet Labs Stock Topped the Market Today