Verra Mobility Tumbles After Avis Deal Ends, Street Rethinks Outlook
Verra Mobility shares steadied near $4 premarket Thursday after plunging 70.6% on news Avis Budget Group will end a major contract in September. The company cut its 2026 revenue forecast by about $135–$145 million and expects segment profit to fall by $120–$125 million. Analysts at JPMorgan, Deutsche Bank, Morgan Stanley, and Baird downgraded the stock and slashed price targets.