PLBY Group, Inc. (PLBY) PT Lowered to $47 at Canaccord Genuity on Supply Chain Disruptions
- Wall Street rallies, snaps longest weekly losing streak in decades
- 'Always Bet on Michael': Dell (DELL) Stock Soars After Crushing Estimates, Analysts Say Results are Impressive
- Credit Suisse Says Tesla (TSLA) Stock Offers an Attractive Entry Point, Sees Nearly 60% Upside From Here
- Citi Downgrades US Equities to Neutral on Recession Risk
- Elon Musk Says Recession Could Last 12 to 18 Months, But 'Actually a Good Thing'
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Canaccord Genuity analyst Austin Moldow lowered the price target on PLBY Group, Inc. (NASDAQ: PLBY) to $47.00 (from $48.00) after the company reported Total Revenue beat consensus by ~1% rising 67% y/y. Adjusted EBITDA offered a margin of 9%, beating consensus by over 20% as DTC revenue grew 139% y/y. Guidance for 2021 was reiterated.
The analyst reiterated a Buy rating, stating "DTC revenue grew 139% y/y, accelerating from 88% growth in Q2 (even excluding the Honey Birdette contribution PLBY would've experienced a slight acceleration to 90% growth)." "We reduce our DTC estimates slightly to account for supply chain disruptions during the holiday season. We lower our price target to $47 (from $48), based on 6.5x (unchanged) our lower 2022 revenue estimate of $342M (from $348M)".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jack In The Box (JACK) PT Lowered to $80 at Stifel
- Royal Bank of Canada (RY:CN) (RY) PT Lowered to Cdn$140 at BMO Capital
- Ebara Corp. (6361:JP) (EBCOY) PT Lowered to JPY7,000 at Citi
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCanaccord Genuity
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!