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

Maxim analyst Jack Vander Aarde lowered the firm’s price target on VerifyMe (VRME) to $1.50 from $2 and keeps a Buy rating on the shares. The company reported Q1 results with revenue of $4.5M, down 23% y/y, though the breakeven adjusted EBITDA matched the firm’s estimate, the analyst tells investors in a research note. While the management did not provide explicit guidance, given the current macro environment, VeryfyMe expects a challenging Q2 before an improving organic revenue in the second half, Maxim added.