Catapult Group International's stock plummeted 9.09% during intraday trading on Monday.
The athletic-tech provider's shares fell after a trading update revealed a free cash-flow miss and indicated that earnings in the second half may have been softer than in the first half. Analyst firm Bell Potter trimmed its target price for the stock by 2.1% to A$4.75, though maintained a buy rating and pointed to underlying growth and annualized contract revenue as positive factors.
Despite the free cash-flow miss not being a major concern for some analysts, the market reacted negatively to the earnings outlook, leading to the significant price decline during the trading session.