Skillsoft drops after Q1 revenue misses estimates

Skillsoft

09/06/2022 15:54

** Shares of Skillsoft Corp  SKIL.N  down 14% at $5.45 - on
course for their worst day 
    ** SKIL on Wednesday after market close reported Q1 revenue
that missed market expectations, but its forecast for the full
year was above estimates  urn:newsml:reuters.com:*:nBw2pKxcsa
    ** D.A. Davidson cuts PT to $8 from $9, citing a "bumpier
near-term path"
    ** Piper Sandler, which cuts PT by $2 to $5, says overall
FY23 revenue and bookings targets could come in at lower end of
guidance range, given this is largely a back-end loaded year
    ** Avg. rating of 5 analysts is "buy"; median PT is $9.50 -
Refinitiv data
    ** Stock down ~40% YTD

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))