Cryoport On See-Saw Of Expectations: Analysts Cut Price Targets, But Remain Bullish On Long-Term Return
Portfolio Pulse from Vandana Singh
Cryoport Inc's shares are trading lower after the company released preliminary results for Q2 FY23 and updated its revenue expectations for FY23. The company expects Q2 sales of $56.5 million - $57.5 million, a decrease of 11% compared to Q2 2022 and below the consensus of $67.4 million. Cryoport also lowered its FY23 sales outlook to $233 million - $243 million, down from prior guidance of $270 million - $290 million. Despite this, analysts remain bullish on the company's long-term return.
July 13, 2023 | 6:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Cryoport's shares are trading lower after the company released disappointing Q2 FY23 preliminary results and lowered its FY23 sales outlook. However, analysts remain optimistic about the company's long-term return.
Cryoport's shares are trading lower due to disappointing Q2 FY23 preliminary results and a lowered FY23 sales outlook. This negative news is likely to impact the company's stock price in the short term. However, analysts remain optimistic about the company's long-term return, which could potentially offset some of the short-term negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Azenta Inc was mentioned in comparison to Cryoport, noting that Cryoport lacks the massive share buyback support that Azenta has.
Azenta was mentioned in comparison to Cryoport, noting that Cryoport lacks the massive share buyback support that Azenta has. This mention is passive and does not provide any specific information that would impact Azenta's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20