Needham lowered the firm’s price target on Paragon 28 to $14 from $24 but keeps a Buy rating on the shares. The company’s Q3 revenue growth slowed to 14.5% from 20.8% in Q2 due a difficult comp, lingering supply chain challenges, and two fewer selling days, the analyst tells investors in a research note. With its multiple growth drivers, the firm still expects Paragon 28 to continue to significantly outpace foot & ankle market growth, Needham added.
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Read More on FNA:
- Paragon 28 price target lowered to $14 from $25 at Canaccord
- Paragon 28 backs FY23 revenue view of $214M-$218M, consensus $217.4M
- Paragon 28 reports Q3 adjusted EBITDA ($1.2M) vs. ($2.7M) last year
- Paragon 28 price target lowered to $28 from $32 at B. Riley
- Paragon 28 price target lowered to $12 from $25 at BofA
