Northland analyst Michael Latimore lowered the firm’s price target on Kore Group (KORE) to $12 from $14 and keeps an Outperform rating on the shares. Q4 results were largely inline and the company guided FY23 revenue "well above consensus," and EBITDA below consensus based on the Twilio IoT acquisition. The acquisition of Twilio’s (TWLO) IoT business further reflects Kore’s goal to simplify IoT development and use, said the analyst, who calls the acquisition "savvy."
Published first on TheFly
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Read More on KORE:
- Kore Group sees FY23 revenue $300M-$310M, consensus $280.68M
- Kore Group reports preliminary FY22 EPS ($1.39), consensus (59c)
- Kore Group reports preliminary Q4 EPS (90c), consensus (11c)
- KORE Reports Preliminary and Unaudited Fourth Quarter and Full-Year 2022 Results; Provides Full-Year 2023 Revenue Guidance of $300 to $310 Million, Representing Year-Over-Year Growth of 12% to 15%
- Kore Group to acquire Twilio’s IoT business unit
