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

Planet Labs PBC (NYSE:PL - Free Report) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $4.00 to $4.50 in a research report report published on Tuesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on PL. Needham & Company LLC reissued a "buy" rating and set a $5.00 target price on shares of Planet Labs PBC in a research report on Tuesday, December 10th. The Goldman Sachs Group decreased their price objective on Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating on the stock in a report on Tuesday, September 10th. Citigroup lifted their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the company a "buy" rating in a report on Monday. Craig Hallum lifted their price objective 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, JMP Securities reaffirmed a "market outperform" rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.33.

Planet Labs PBC Trading Down 3.1 %

PL stock traded down $0.13 during trading on Tuesday, reaching $4.20. 4,170,660 shares of the stock were exchanged, compared to its average volume of 2,155,708. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $4.99. The company has a market capitalization of $1.24 billion, a P/E ratio of -10.55 and a beta of 1.34. The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $2.45.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in Planet Labs PBC in the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC during the 3rd quarter worth approximately $45,000. Vontobel Holding Ltd. boosted its position in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock valued at $50,000 after buying an additional 10,000 shares in the last quarter. nVerses Capital LLC acquired a new stake in Planet Labs PBC in the third quarter valued at approximately $61,000. Finally, SG Americas Securities LLC raised its stake 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 valued at $83,000 after acquiring an additional 31,160 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.