VAPO - Vapotherm cut to Underweight on concerns over near-term business visibility

Piper Sandler has downgraded Vapotherm (NYSE:VAPO) stock ratings from "Overweight" to "Underweight," while raising concerns over the company's near-term business visibility. In a research note, Piper Sandler analysts Jason Bednar and Joseph Downing cut their price target on the stock from $23 to $8 and also slashed their 2022 and 2023 revenue and profitability estimates for the company. The downgrade comes on the heels of Vapotherm's (VAPO) prelim results announcement Wednesday (Apr 06). The respiratory technology developer reported prelim revenue of $20.5M to $21.5M for Q122 that fell below Wall Street estimates of $25.79M. The company also pulled back its FY22 guidance due to a slowdown in the number of COVID-19 related hospitalizations amid what seems to be the diminishing virulence of the disease. The forecast was based in part on the assumption there would be two COVID-19 surges in 2022. Shares are down ~25% today, extending yesterday's dip of over 20% in

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Vapotherm cut to Underweight on concerns over near-term business visibility