Byrna Technologies Inc. (BYRN) PT Lowered to $18 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin lowered the price target on Byrna Technologies Inc. (NASDAQ: BYRN) to $18.00 (from $27.00) while maintaining a Buy rating.

The analyst commented, "While delivering another quarter of DD revenue growth, Byrna’s Q4 sales update came in slightly below Street expectations as the DTC channel missed our forecast. Trends appeared on track through mid-January but a turn in consumer sentiment impacted conversion rates despite ~45% Y/Y growth in web traffic. The company also saw a couple of larger orders, including a large international order, slide in timing from Q1 to Q2. The increased number of retail partners and advertising efforts to encourage customers to live demo launchers is likely to cause a sustained shift to the wholesale channel. We continue to expect FY26 to be a strong year of 10%+ growth for the company with new retail doors being aggressively added that will impact 2H26. In addition, we see potential for new management to bring a fresh perspective at improving overall conversion as the company sustains impressive web traffic growth. We are taking a more conservative approach to our FY26 and FY27 forecasts given the potential for geopolitical concerns to further dampen consumer sentiment. We are reiterating our BUY rating but lowering our Price Target to $18."

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