Piper Jaffray Downgrades YuMe, Inc. (YUME) to Neutral

Piper Jaffray downgraded YuMe, Inc. (NYSE: YUME) from Overweight to Neutral with a price target of $4.00 (from $8.00) following disappointing Q2 results..

Analyst Gene Munster commented, "YuMe posted disappointing Q2 results after it faced some execution headwinds during the roll-out of its programmatic offering. We believe the loss of a few key customers is likely to remain a headwind over the next few quarters. Given that the company will likely need to work through the customer turnover for multiple quarters and that the programmatic opportunity remains nascent, we expect investors to wait on the name until they see evidence that the business is stabilizing, which could happen sometime next year. As a result, we are downgrading to Neutral and lowering our price target to $4 from $8."

The firm cut FY 2015 EPS from ($0.42) to ($0.64) and FY 2016 EPS from ($0.35) to ($0.39).

For an analyst ratings summary and ratings history on YuMe, Inc. click here. For more ratings news on YuMe, Inc. click here.

Shares of YuMe, Inc. closed at $4.60 yesterday.

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