Playboy Group Inc PLBY shares are trading higher by 6.63% at $44.24 Thursday morning after the company reported better-than-expected first-quarter sales results.
Playboy Group reported quarterly sales of $42.7 million, which beat the analyst consensus estimate of $38.47 million.
Craig-Hallum also raises its price target from $35 to $50.
Playboy Group is a pleasure and leisure company. The company serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming and Lifestyle and Beauty and Grooming. The company's flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world.
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