Planet Labs price target lowered to $4 from $6 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Planet Labs to $4 from $6 and keeps a Buy rating on the shares. Planet Labs’ Q2 results were in-line on the top line and ahead on the bottom line, with the full year guide lowered on the top and improved on the bottom, the analyst tells investors in a research note. The firm has 15% and 16% revenue growth in its model for CY23 and CY24, but believes the company sees room for much more.