23andMe price target lowered to 85c from 90c at Citi

Citi analyst David Lebowitz lowered the firm’s price target on 23andMe to 85c from 90c and keeps a Neutral rating on the shares. 23andMe missed Street expectations in fiscal Q3 on revenue and management noted that the company’s efforts to drive margin expansion through higher kit and subscription prices resulted in lower than anticipated unit volumes for the quarter, the analyst tells investors in a research note. The firm remains cautious on the outlook ahead, saying the full financial impact from ongoing class action claims, as well as persistent headline risk, remains unclear.