SITO Mobile (SITO) PT Lowered to $4 at Cowen on Mixed 4Q Results; 'Estimates Reset Lower'

Cowen analyst Thomas Champion lowered its price target on SITO Mobile (NASDAQ: SITO) to $4.00 (from $4.50) while maintaining a Outperform rating, suggesting should be reset lower, as the company reported mixed fourth quarter results from a challenging quarter.

Champion comments, "4Q results were mostly in-line with expectations and, importantly, management expressed that the C-suite turmoil and election-related issues are in the past. We think the 1Q guide was conservative and the opportunity remains intact; nevertheless, we lowered our estimates and Price Target."

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