Arena Group price target lowered to $8 from $10 at Lake Street

Lake Street lowered the firm’s price target on Arena Group (AREN) to $8 from $10 and keeps a Buy rating on the shares after the company reported Q4 results that came in below the firm’s expectations, driven by continued volatility in Google-driven search traffic. As traffic trends stabilize and non-advertising revenue continues to grow, the firm believes the company’s earnings power “will become more apparent to investors,” the analyst added.