Needham Maintains Buy Rating for Otonomo Technologies: Here's What You Need To Know

Needham has decided to maintain its Buy rating of Otonomo Technologies OTMO and lower its price target from $6.00 to $2.00.

Shares of Otonomo Technologies are trading down 1.79% over the last 24 hours, at $0.69 per share.

A move to $2.00 would account for a 191.84% increase from the current share price.

About Otonomo Technologies

Otonomo Technologies Ltd is a provider of vehicle data. It delivers the Otonomo Vehicle Data Platform and marketplace that enables car manufacturers, drivers, and service providers to be part of a connected ecosystem. Its vehicle data marketplace is a neutral intermediary between vehicle data providers and data consumers. It provides secure and equal access to hundreds of data attributes that reveal insights into driver behaviour, vehicle health, road hazards, environmental conditions, and traffic trends. Geographically it operates in APAC, and USA whilst earning key revenue from the EMEA region.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.