Seeking Alpha

Support.com craters on dour Q1 guidance, 2 downgrades

  • Support.com (SPRT -17.3%) shares crater following dour Q1 guidance yesterday afternoon.
  • Not helping shares are downgrades from Craig-Hallum (Buy to Hold, PT to $2.50 all the way from $7.25) and Northland Capital Markets (Outperform to Perform, PT to $3 from $6).
  • Northland's Michael Latimore observes, "Support.com guided 1Q below estimate largely given, we believe, that Comcast bundle-related revenue levels are uncertain. Other factors included only a minor referral program, and soft expectations at Office Depot post OfficeMax merger. We are lowering our estimates per guidance, and lowering the rating until more clarity develops around the appropriate agent to home network subscriber ratio at Comcast."
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