Needham analyst Mayank Tandon lowered the firm’s price target on Agilysys (AGYS) to $125 from $145 but keeps a Buy rating on the shares. The company’s Q3 results were mixed as all of AGYS’ revenue segments came in softer than expected due to ongoing sales pressures and project implementations getting delayed late in the quarter, the analyst tells investors in a research note. While management lowered the FY25 outlook given the aforementioned revenue headwinds however, the subscription revenue outlook was maintained and is still expected to grow 38% from last year, which was “encouraging”, the firm added.
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