Keefe Bruyette lowered the firm’s price target on SmartRent to $4 from $4.50 and keeps an Outperform rating on the shares following the Q4 report. The firm reduced estimates on higher expenses and lower revenue. However, its scenario analysis of the intermediate-term revenue and earnings potential from SmartRent’s internet of things and WiFi solutions which implies bull case upside of $8 per share, or 190%.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SMRT:
- New Share Price & Shareholder Rights Risk for Smartrent, Inc. – What’s the Latest?
- SmartRent Announces Stock Buyback and Enhances Investor Communication
- SMRT Earnings this Week: How Will it Perform?
- BTIG sees consensus on SmartRent business quality, not on path to maximize value
- Stockholder urges SmartRent to address strategy, governance mattters
