Wag! Group price target lowered to $3 from $6 at Oppenheimer

Oppenheimer lowered the firm’s price target on Wag! Group to $3 from $6 and keeps an Outperform rating on the shares. Wag! provided lower revenue guidance for FY24 and 15% dilution via a stock offering to pay down debt, the analyst tells investors in a research note. The firm expects more balance between growth and profitability in 2025.