Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $4.00 to $4.50 in a report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

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

Planet Labs PBC Trading Up 0.3 %

NYSE:PL opened at $3.88 on Tuesday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $4.99. The company has a market cap of $1.15 billion, a PE ratio of -9.46 and a beta of 1.34. The company’s 50 day moving average is $3.11 and its two-hundred day moving average is $2.49.

Institutional Trading of Planet Labs PBC

Hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in Planet Labs PBC during the second quarter worth approximately $38,000. Valeo Financial Advisors LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at $45,000. Vontobel Holding Ltd. increased its holdings in Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. nVerses Capital LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth $61,000. Finally, SG Americas Securities LLC lifted its holdings in Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after purchasing an additional 31,160 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.