Lantronix, Inc. (LTRX) PT Lowered to $7 at Lake Street Capital Markets

(Updated - April 30, 2024 8:47 AM EDT)

Lake Street Capital Markets analyst Jaeson Schmidt lowered the price target on Lantronix, Inc. (NASDAQ: LTRX) to $7.00 (from $8.00) while maintaining a Buy rating.

The analyst commented: "We are pleased to see the solid print and outlook and think it should go a long way in helping calm any lingering concerns about the growth opportunities after last quarter’s cut to FY24 guidance. We remain encouraged by the continued progress at Gridspertise and management’s bullish tone regarding the long-term opportunity here. While we acknowledge Lantronix will need to backfill some Gridspertise revenue in FY25 after the large ramp in FY24, we continue to believe it is on a path to see sustained top and bottom line growth next year. With shares trading at only 7x ex-cash our 2025 EPS, we think investors are presented with an attractive risk/reward opportunity at current levels. We are maintaining our Buy rating but lowering our price target to $7."

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