VerifyMe price target lowered to $1.50 from $2 at Barrington

Barrington analyst Michael Petusky lowered the firm’s price target on VerifyMe to $1.50 from $2 and keeps an Outperform rating on the shares. The company’s revenue fell short in Q2 but adjusted EBITDA beat, the analyst tells investors in a research note. The firm says VerifyMe reduced its revenue guidance for fiscal 2024 from a mid-single digit percentage growth expectation to approximately flat given a slowdown in shipments to existing customers in its proactive business line.