RxSight price target lowered to $10 from $18 at Piper Sandler

Piper Sandler lowered the firm’s price target on RxSight (RXST) to $10 from $18 and keeps a Neutral rating on the shares after the company reported preliminary Q2 revenue of $33.6M, below consensus estimates of $39.8M and lowered FY 2025 revenue guidance to $120M-$130M from $160M-$175M previously. The company pointed to slower LAL uptake from new customers and an LDD funnel that didn’t materialize that led to the Q2 miss and FY2025 guidance cut. Admittedly, Piper says it is left with more questions than answers following the pre-announcement, and it’s unknown to it how much of the slowdown in the business is driven by stalling penetration, competitive trialing dynamics, or the broader macro environment.