By Josh Beckerman
Shares of NCR Voyix were 19% lower Friday after its first earnings report following the spin-off of NCR Atleos and guidance for a slight revenue decline this year.
The stock was recently trading at $11.80 and down is about 30% this year.
NCR Voyix, which provides digital commerce technology for retail, restaurants and digital banking, said Thursday that fourth-quarter revenue was $963 million, compared with $966 million a year earlier. For 2024, it expects $3.6 billion to $3.7 billion in revenue, compared with $3.83 billion in 2023.
Oppenheimer, which kept its outperform rating and $19 price target, said the company “will continue to face some volatility in the hardware business, but Ebitda growth should be driven by cost savings actions and software and services growth.” Needham maintained its buy rating and lowered its target to $20 from $22.
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