Loading...
Loading...
Jefferies downgraded Velti
VELT from Buy to Hold and lowered the price target from $8.00 to $2.15.
Jefferies analyst Peter Misek commented, "Velti badly missed Q4 results, provided 2013 guidance well below its prior comments, fully drew down its revolver, and is violating its covenants due to the EBITDA miss. While guidance has Velti skating by a Q2/Q3 cash trough, after badly missing EBITDA guidance the last two quarters we lack confidence in mgmt's execution. We downgrade to Hold and cut our target to $2.15."
Velti closed at $2.15 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in