Upexi price target lowered to $4 from $5 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Upexi to $4 from $5 and keeps a Buy rating on the shares after the company reported Q4 sales of $19M, below the firm’s $26M estimate, and provided fiscal Q1 sales guidance of $26M-$27M that implies quarter-over-quarter growth of 38%-43%. The firm is applying a lower multiple to its 2024 EBITDA estimate as a function of the top-line miss and the company’s current balance sheet position, the analyst tells investors.