Vacasa price target lowered to $8 from $10 at Needham

Needham lowered the firm’s price target on Vacasa to $8 from $10 and keeps a Buy rating on the shares after its Q1 earnings miss. The company’s Q1 results featured a similar tone regarding a challenged topline and a focus on cost-cutting, the analyst tells investors in a research note. Given the difficult demand environment Vacasa is facing, they are doing the right thing by focusing on cost-cutting, but this overall significantly increases uncertainty in its estimates, the firm added.