Why Harmonic Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Harmonic Inc's shares fell by 21% following a Q2 2023 earnings miss. The company reported adjusted EPS of $0.12, missing the consensus of $0.13, and sales of $156 million, missing the analyst estimate of $167.27 million. Several analysts, including Raymond James, Rosenblatt, Needham, and Barclays, reduced their price targets for the company. Harmonic also revised its 2023 revenues and adjusted EPS downwards.
August 04, 2023 | 10:04 am
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NEGATIVE IMPACT
Harmonic Inc's Q2 earnings miss and downward revision of 2023 revenues and EPS have led to a 21% drop in its share price. Analysts have also reduced their price targets for the company.
Harmonic Inc's Q2 earnings miss and the downward revision of its 2023 revenues and EPS have negatively impacted investor sentiment, leading to a drop in its share price. The reduction in price targets by several analysts further indicates a negative outlook for the company.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100