Augmedix price target lowered to $4.50 from $6.50 at Evercore ISI

Evercore ISI lowered the firm’s price target on Augmedix to $4.50 from $6.50 and keeps an In Line rating on the shares. The firm now sees slightly higher spending in FY24 with funding-related hiring nearly complete and incremental investment to expand in Bangladesh and optimization efforts in India, so it is revising its estimates, but it adds that the growth outlook “remains broadly intact.”