Potential Turnaround Ahead for Nevro: Q2 Earnings, Guidance Lag Wall Street Estimates
Portfolio Pulse from Vandana Singh
Nevro Corp reported Q2 FY23 revenue of $108.8 million, missing the management guidance and consensus. The company expects Q3 revenues to be down 4%-6% Y/Y, below the consensus. Nevro's FY23 sales are expected to be approximately $410 million-$415 million, compared to previous guidance of $445 million-$455 million. JMP Securities analysts cut the price target for NVRO from $75 to $40. NVRO shares are down 18.90% at $20.01.
August 04, 2023 | 11:57 am
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NEGATIVE IMPACT
Nevro Corp's Q2 FY23 revenue missed the guidance and consensus. The company's Q3 revenues and FY23 sales are expected to be lower than previous guidance. JMP Securities analysts cut the price target for NVRO from $75 to $40. NVRO shares are down 18.90%.
Nevro Corp's Q2 FY23 revenue missed the guidance and consensus, which is a negative signal for investors. The company's lower than expected Q3 revenues and FY23 sales guidance further adds to the negative sentiment. The price target cut by JMP Securities analysts from $75 to $40 indicates a bearish outlook for the stock. The 18.90% drop in NVRO shares reflects the market's reaction to these developments.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100