Vapotherm price target lowered to 50c from $1 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on Vapotherm to $0.50 from $1 and keeps an Underweight rating on the shares following the Q4 results. The analyst’s 2024 revenue growth estimate of 12% also continues to be below management’s long-term target of 20%, a function of Piper’s concern that Vapotherm’s revenue growth could "remain capped" in light of the pullback in operating expenditures.