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

Planet Labs PBC (NYSE:PL) had its target price hoisted by equities researchers at Deutsche Bank Aktiengesellschaft from $4.00 to $4.50 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 4.05% from the stock’s previous close.

Several other research firms have also recently issued reports on PL. 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 note on Monday, December 9th. 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. Craig Hallum raised their target price on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Citigroup raised their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group cut their target price 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 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 has an average rating of “Moderate Buy” and a consensus price target of $4.33.

Planet Labs PBC Trading Up 7.9 %

Shares of NYSE:PL opened at $4.33 on Tuesday. The stock’s 50-day moving average price is $3.00 and its 200-day moving average price is $2.45. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99. The stock has a market capitalization of $1.28 billion, a P/E ratio of -10.55 and a beta of 1.34.

Hedge Funds Weigh In On Planet Labs PBC

Several large investors have recently made changes to their positions in PL. Franklin Resources Inc. raised its holdings in Planet Labs PBC by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock worth $4,105,000 after acquiring an additional 71,719 shares during the last quarter. Barclays PLC grew its position in shares of Planet Labs PBC by 25.0% during the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after acquiring an additional 65,181 shares during the period. Geode Capital Management LLC boosted its holdings in Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after buying an additional 689,888 shares during the period. Public Employees Retirement System of Ohio bought a new position in Planet Labs PBC in the 3rd quarter worth $406,000. Finally, XTX Topco Ltd lifted its stake in Planet Labs PBC by 56.8% in the 3rd quarter. XTX Topco Ltd now owns 169,205 shares of the company’s stock worth $377,000 after purchasing an additional 61,274 shares in the last quarter. 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.