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home / news releases / SMRT - SmartRent: Downgrading To Hold Due To Uncertainties In FY24

SMRT - SmartRent: Downgrading To Hold Due To Uncertainties In FY24

SmartRent Inc. Class A

2024-03-25 00:25:39 ET

Summary

  • As the market shifts its focus to near-term performance, I am downgrading my rating from buy to hold.
  • The company's financials show strong hardware and professional services revenue, but weaker hosted services revenue.
  • The adoption of the community WiFi solution is causing a major slowdown in growth, impacting near-term performance.

Summary

For further details see:

SmartRent: Downgrading To Hold Due To Uncertainties In FY24
Stock Information
Company Name: SmartRent Inc. Class A
Stock Symbol: SMRT
Market: NASDAQ
Website: smartrent.com
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