Overview
- Alexander Kayyal was terminated as CFO effective Jan. 24 after a five-month tenure and will remain on the board through the 2026 annual meeting.
- Rosenblatt lowered its price target to $53 and kept a Buy rating, while Citigroup cut to $38 with a Neutral call and Truist reduced to $60 with a Buy.
- The stock traded in the low $30s on Tuesday, down about 4% to 5% on the day and roughly 73% over the past year, marking a new 52-week low.
- The company reiterated guidance for at least $840 million in Q4 revenue and roughly $375 million in adjusted EBITDA, as Rosenblatt trimmed its valuation multiple from 22x to 18x 2026 adjusted EBITDA.
- Investors next look to an earnings report expected on Feb. 25, with consensus near $0.50 EPS and about $841 million in revenue.