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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!