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Mondee price target lowered to $4.25 from $7 at JMP Securities

JMP Securities lowered the firm’s price target on Mondee to $4.25 from $7 and keeps an Outperform rating on the shares. Mondee reported solid Q4 results and in line 2024 revenue guidance, while adjusted EBITDA guidance fell below consensus, though guidance implies year over year margin expansion of nearly 350 basis points, the analyst tells investors in a research note. A more recessionary environment may challenge its ability to execute its organic and inorganic strategy, JMP argues.

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