Why American Software Shares Are Trading Lower By Over 20%? Here Are Other Stocks Moving In Friday's Mid-Day Session
Portfolio Pulse from Lisa Levin
American Software shares dropped 20.8% despite better-than-expected Q4 earnings, as sales missed estimates and FY24 revenue guidance was between $120 million and $126 million. Other stocks experienced significant price movements during Friday's mid-day session.
June 09, 2023 | 4:49 pm
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American Software shares dropped 20.8% after reporting better-than-expected Q4 earnings but missing sales estimates and providing FY24 revenue guidance of $120 million to $126 million.
American Software's stock price dropped significantly due to the company missing sales estimates and providing a revenue guidance that may not have met investor expectations. This negative news outweighs the positive earnings report, leading to a short-term negative impact on the stock price.
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