Needham analyst Mayank Tandon lowered the firm’s price target on Agilysys (AGYS) to $125 from $145 but keeps a Buy rating on the shares. The company’s Q3 results were mixed as all of AGYS’ revenue segments came in softer than expected due to ongoing sales pressures and project implementations getting delayed late in the quarter, the analyst tells investors in a research note. While management lowered the FY25 outlook given the aforementioned revenue headwinds however, the subscription revenue outlook was maintained and is still expected to grow 38% from last year, which was “encouraging”, the firm added.
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Read More on AGYS:
- Agilysys price target lowered to $135 from $150 at Oppenheimer
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- Agilysys cuts FY25 revenue view to $273M from $280M-$285M, consensus $281.9M
- Agilysys down 3% at $122.11 after Q3 results, FY25 revenue guidance cut
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