Sonic Foundry price target lowered to $3 from $5 at Maxim

Maxim analyst Jack Vander Aarde lowered the firm’s price target on Sonic Foundry to $3 from $5 but keeps a Buy rating on the shares. The company’s Q4 revenue underperformed his expectations, but results reflect continued focus on future growth investments, the analyst tells investors in a research note. Vander Aarde adds that he is pushing out his growth assumptions for Vidable and Global Learning Exchange by about one year, though his bullish thesis remains intact, speculating that Sonic’s potential cross-selling opportunity from existing Mediasite customers can reach $35M revenue within the next five years.