VerifyMe price target lowered to $4 from $5 at Maxim

Maxim analyst Jack Vander Aarde lowered the firm’s price target on VerifyMe to $4 from $5 and keeps a Buy rating on the shares. The company’s Q2 results were “mixed” with a revenue miss, though the firm remains positive on the company’s 2024 organic growth ramp and cross-selling synergies, the analyst tells investors in a research note. The stock also trades at a significant discount to peers, with 2024 enterprise value to expected revenue multiple of 0.3-times and to expected EBITDA multiple of 5.2-times, the firm added.