Canaccord analyst Maria Ripps lowered the firm’s price target on Rubicon Technologies to $4.00 from $5.00 and keeps a Buy rating on the shares. The analyst said Rubicon reported soft Q4 results as revenue and adjusted gross profit both came in well below consensus, driven by a combination of slower growth in the Services business and a ~50% year-over-year decline in Recyclable Commodity revenue, which was impacted by unfavorable commodity price movements.
Published first on TheFly
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