Kaleyra downgraded to Market Perform from Outperform at Northland

Northland analyst Michael Latimore downgraded Kaleyra to Market Perform from Outperform with a $7.25 price target after Tata Communications announced a deal to buy Kaleyra for $7.25 per share. Tata is a multi-billion dollar communications service provider supported by the larger Tata Group and Kaleyra is providing a CPaaS offering and “more global reach,” says the analyst, who calls Tata “a great landing spot for Kaleyra.”