Planet Labs (NYSE: PL) stock jumped 7.2% through 12:55 p.m. ET Friday -- and no one seems to know why. There's no news from the company itself, no upgrades or price target changes on Wall Street.

What there is, is a note from KeyBanc analyst Michael Leshock encouraging investors to buy defense stocks on the theory that the "conflict with Iran" might last a while longer and even turn into a "boots on the ground" situation.

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"As the first week of the Iran conflict draws to a close," writes Leshock, certain trends are becoming clear. One is the need to replace military drones expended early in the conflict by buying more of them. But there's a second need that KeyBanc did not address, and if you ask me, it's the reason Planet Labs stock is soaring today.

Drones are used in conflict to damage enemy installations, and in the case of Iran, its command and control infrastructure and ballistic missile launching platforms in particular. Assessing the damage done from an attack after it's happened, however, requires taking pictures. And with approximately 200 Earth observation satellites offering "multiple revisits per day" to take and update photos, Planet Labs offers some of the best pictures available.

All week long indeed, media stories on the conflict have featured images from Planet Labs.

According to Secretary of Defense Pete Hegseth, the Iran war that began last week might ultimately last "four weeks, but it could be six, it could be eight." At the upper end of that range, that's almost a full quarter of heightened demand for images from Planet Labs.

I have to imagine this will result in a revenue bump for the space stock. The stock price bump is already here.

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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy.

Why Planet Labs Stock Popped Today was originally published by The Motley Fool