Nautilus downgraded to Market Perform from Outperform at William Blair

William Blair analyst Sharon Zackfia downgraded Nautilus to Market Perform from Outperform without a price target. The company’s fiscal Q3 earnings missed expectations as retail partners exercised more caution while lowering inventory levels, the analyst tells investors in a research note. Despite an "undemanding" enterprise value, the analyst downgraded the shares, saying any potential inflection into positive sales trends is now likely pushed to late 2023 at earliest.