Stephens analyst Chris Cooley noted that Cutera's Q3 negative pre-announcement marked the third consecutive quarterly shortfall for the company and he lowered his price target on the stock to $40 in reaction to the news. While he believes the shares are likely to continue to underperform through the end of the calendar year, Cooley said he is inclined to take a longer-term focus and hold rather than sell while waiting for growth to accelerate in 2019. He maintains an Overweight rating on Cutera shares, which are down 16% to $24.94 in pre-market trading.