RBC Capital analyst Matthew Swanson lowered the firm’s price target on Tremor International to $8 from $11 and keeps an Outperform rating on the shares. The company’s Q2 results were weaker than expected as revenue and adjusted EBITDA were both impacted by a challenging macro environment in addition to anticipated declines from non-core performance activity, the analyst tells investors in a research note. Continued macro challenges around managed service campaigns and elongating sales cycles are also driving guidance lower, the firm added.
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Read More on TRMR:
- Tremor International price target lowered to $12 from $20 at JMP Securities
- Tremor (NASDAQ:TRMR) Tanks on Disappointing Q2 Numbers
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- Tremor International price target lowered to $11 from $13 at RBC Capital