Analyst Cuts Playboy Parent's Price Target As Inflation Woes Hit Earnings

Chardan Capital analyst Brian Dobson reiterated a Buy rating on PLBY Group Inc PLBY and lowered the price target to $9 from $13 (56% upside).
The analyst said PLBY reported worse-than-expects Q2 earnings, missing the estimate, and suspended its 2022 guidance.
PLBY reported a quarterly net loss of $(8.3) million, or $(0.18) per share, which missed the estimate for a loss of $(0.12) per share.
Dobson said the disappointing results stem from inflationary pressures and intensifying competition impacting items sold via Lovers and Yandy.
Nevertheless, the analyst feels PLBY will retain its appeal due to its iconic brand, clothier Honey Birdette and NSFW social media platform, CENTERFOLD.
Price Action: PLBY shares are trading lower by 17.48% at $5.76 on the last check Wednesday.

Momentum89.79

GrowthNot Available

QualityNot Available

Value31.53

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