Deutsche Bank Aktiengesellschaft Raises Planet Labs PBC (NYSE:PL) Price Target to $4.50

Planet Labs PBC (NYSE:PL) had its price objective lifted by stock analysts at Deutsche Bank Aktiengesellschaft from $4.00 to $4.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 16.28% from the company’s current price.

Several other research analysts have also commented on PL. Citigroup raised their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Tuesday, December 10th. JMP Securities restated a “market outperform” rating and set a $4.50 target price (up previously from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Craig Hallum increased their price target on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group reduced their price objective on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.33.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $3.87 on Tuesday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -9.44 and a beta of 1.34. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $4.99. The stock’s 50-day moving average is $3.08 and its 200-day moving average is $2.48.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently modified their holdings of PL. Algert Global LLC purchased a new stake in Planet Labs PBC during the 2nd quarter worth approximately $38,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC during the third quarter worth approximately $45,000. Vontobel Holding Ltd. grew its position in shares of Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Planet Labs PBC in the third quarter worth $61,000. Finally, SG Americas Securities LLC raised its holdings in Planet Labs PBC by 234.6% in the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after acquiring an additional 31,160 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Company Profile

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.