Jefferies raised the firm’s price target on Nogin to $1 from 50c and keeps a Hold rating on the shares post the Q2 results. The company lowered its fiscal 2023 revenue guidance by $20M at the midpoint, attributable to planned changes aimed at improving margins ahead, and now expects 2024 growth of 40% year-over-year, the analyst tells investors in a research note. The firm cites Nogin’s lack of profitability and potential liquidity risk for its Hold rating.
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Read More on NOGN:
- Nogin sees FY23 revenue $50M-$55M, consensus $79.24M
- Nogin reports Q2 EPS ($1.13), consensus (90c)
- Nogin Reports Second Quarter 2023 Financial and Operational Results
- Nogin, Inc. (NOGN) Q2 Earnings Cheat Sheet
- UPDATE — Nogin to Report Second Quarter 2023 Financial Results on Monday, August 14, 2023 at 5:00 p.m. ET