WD-40 Company's stock price plummeted 5.05% during intraday trading on Friday, following a significant analyst action that impacted investor sentiment.

The sharp decline came after DA Davidson lowered its price target on WD-40 from $300 to $270, while maintaining a Buy rating on the shares. Analyst price target reductions often signal revised expectations about a company's future performance and can trigger selling pressure as investors reassess their positions.

Despite the price target cut, DA Davidson maintained its positive Buy rating, suggesting the firm still sees long-term value in WD-40 shares despite the near-term adjustment to its valuation expectations.