Planet Labs price target lowered to $3.90 from $4.50 at Citi

Citi analyst Jason Gursky lowered the firm’s price target on Planet Labs to $3.90 from $4.50 and keeps a Buy rating on the shares. Planet reported a roughly in-line quarter, wrapping up a tough year as growth expectations decelerated several times, the analyst tells investors in a research note. However, the firm continues to like the potential at the company, saying government demand is sticky and commercial adoption of geospatial data is likely to increase over time.