PL - Planet Labs Navigating Extended Defense Sales Cycles: Analyst Cuts Price Target By 23% | Benzinga
Benchmark analyst Josh Sullivan reiterated a Buy rating on the shares of Planet Labs PBC (NYSE: PL) and lowered the price target from $6.5 to $5.
PL reported 2QFY24 revenues of $53.8 million versus the Street’s $54.1 million.
FY24 revenue guidance was reduced below the Street’s
view, due to defense sales cycles extending.
For the year, net dollar retention rate (NDR) was lowered to 115% due to the delay of an eight figure ACV ...