Rover Group price target lowered to $7.00 from $8.00 at Canaccord

Canaccord analyst Maria Ripps lowered the firm’s price target on Rover Group to $7.00 from $8.00 and keeps a Buy rating on the shares. The analyst said they reported strong Q4 results, with both revenue and adjusted EBITDA coming in ahead of consensus and guidance as travel activity remained strong despite continued macro uncertainty. Canaccord said barring a material disruption to travel patterns, we continue to view the current valuation and setup as attractive, given the company’s solid growth potential and strong margin profile.