These Analysts Cut Their Forecasts On Planet Labs After Weak Q2 Results
Portfolio Pulse from Lisa Levin
Planet Labs PBC (NYSE:PL) reported lower than expected earnings for Q2 and issued weak FY24 guidance. The company's shares fell 18.3% following the announcement. Analysts from Needham and Benchmark have subsequently lowered their price targets for Planet Labs.
September 08, 2023 | 3:13 pm
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Planet Labs reported lower than expected Q2 earnings and weak FY24 guidance, leading to a drop in share price. Analysts from Needham and Benchmark have lowered their price targets for the company.
Planet Labs' lower than expected Q2 earnings and weak FY24 guidance are negative indicators for the company's financial health, which has led to a drop in its share price. This has also prompted analysts to lower their price targets for the company, indicating a lack of confidence in its short-term performance.
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