Planet Labs PBC (NYSE:PL) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

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

Other research analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research note on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Citigroup boosted their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday. Craig Hallum raised 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, The Goldman Sachs Group dropped their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.33.

Planet Labs PBC Stock Performance

NYSE:PL opened at $4.20 on Tuesday. The stock has a market capitalization of $1.24 billion, a PE ratio of -10.23 and a beta of 1.34. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $4.99. The company has a fifty day moving average of $3.04 and a two-hundred day moving average of $2.47.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PL. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC in the third quarter valued at approximately $45,000. Algert Global LLC acquired a new position in shares of Planet Labs PBC in the 2nd quarter valued at $38,000. Vontobel Holding Ltd. grew its holdings in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after purchasing an additional 10,000 shares during the period. nVerses Capital LLC acquired a new stake in shares of Planet Labs PBC during the 3rd quarter worth about $61,000. Finally, SG Americas Securities LLC raised its holdings in Planet Labs PBC by 234.6% in the 2nd quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after buying an additional 31,160 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.