- Shares of Tremor Video (TRMR) have plunged 40% in pre-market trading after the company missed on the top line in Q3 and issued lackluster guidance.
- Management guides for Q4 revenue of $29.5M-$30.5M, considerably below the $38.6M analysts had expected. At the midpoint, guidance implies a sequential deceleration of 15%. EBITDA is seen at -$2.6M to -$2.1M.
- Analysts responded with a heavy hand: Oppenheimer downgraded shares to Perform (PT to $6.25 from $12), Canaccord Genuity to Hold from Buy (PT to $9 from $12.50), and Jefferies to Hold from Buy (PT to $8 from $13).
- Jefferies mutedly said of its step back, "our thesis on TRMR's competitive positioning has changed."
Tremor Video collapses 40% pre-market on guidance, downgrades
Nov 8 2013, 09:00 ET