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

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

Several other equities research analysts have also commented on the company. The Goldman Sachs Group decreased their price target 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. JMP Securities reiterated a “market outperform” rating and set a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Craig Hallum raised their target price on shares of Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Planet Labs PBC presently has an average rating of “Moderate Buy” and an average price target of $4.33.

Planet Labs PBC Stock Down 7.9 %

Shares of NYSE PL opened at $3.87 on Tuesday. The stock has a market cap of $1.15 billion, a PE ratio of -9.44 and a beta of 1.34. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $4.99. The business has a 50-day moving average price of $3.08 and a 200 day moving average price of $2.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PL. SG Americas Securities LLC boosted its holdings in shares of Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after purchasing an additional 31,160 shares during the last quarter. Penbrook Management LLC boosted its stake in Planet Labs PBC by 7.1% in the 2nd quarter. Penbrook Management LLC now owns 456,655 shares of the company’s stock worth $849,000 after buying an additional 30,230 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Planet Labs PBC by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock valued at $1,184,000 after buying an additional 56,124 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Planet Labs PBC during the 2nd quarter valued at about $632,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Planet Labs PBC by 13.0% during the 2nd quarter. Van ECK Associates Corp now owns 103,768 shares of the company’s stock worth $193,000 after acquiring an additional 11,951 shares during the period. 41.71% of the stock is currently 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.