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Pexip Drops 14% After Carnegie Downgrades on Risk of Guidance Miss

13/10 10:01


  • (PLX AI) – Pexip shares sank 12% after Carnegie downgraded the stock, saying the company risked missing guidance.
  • • Pexip cut to hold from buy at Carnegie, with price target slashed to NOK 65 from NOK 108
  • • Pexip has not shown the expected acceleration in delta annual recurring revenue in its Q3 trading update, Carnegie said
  • • Pexip risks having to reduce the hiring pace and cut its 2024 ARR target to avoid additional financing need around 2023, the analysts said