Exact Sciences Q2 Earnings Surpass Expectation, But Analyst Says Stock Has Limited Growth
Portfolio Pulse from Vandana Singh
Exact Sciences Corp reported Q2 revenue of $622 million, beating the consensus of $599.03 million. The company also raised its 2023 revenue guidance to $2.441-$2.466 billion. Despite these positive results, Benchmark analyst Bruce Jackson downgraded the rating to 'Hold' due to limited potential for further growth. William Blair analysts maintain an 'Outperform' rating, considering the valuation reasonable.
August 04, 2023 | 11:58 am
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NEGATIVE IMPACT
Exact Sciences reported better than expected Q2 revenue and raised its 2023 guidance. However, the stock was downgraded to 'Hold' by Benchmark due to limited growth potential.
Exact Sciences reported strong Q2 results and raised its 2023 guidance, which would typically be positive for the stock. However, the downgrade by Benchmark due to limited growth potential could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100