ShockWave Medical Second-Quarter Earnings: EPS Miss, Revenue Beat, Guidance Raised
Portfolio Pulse from Ryan Gustafson
ShockWave Medical, Inc. (NASDAQ:SWAV) reported mixed Q2 results with an EPS miss and revenue beat. The company raised its full-year 2023 revenue guidance to between $725 million and $730 million. Two analysts changed their price targets on the stock, with Needham raising it from $325 to $330 and Wells Fargo lowering it from $275 to $251. Shares of SWAV were down 9.10% at the time of publication.
August 08, 2023 | 7:26 pm
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ShockWave Medical's mixed Q2 results and revised 2023 revenue guidance may have a short-term impact on its stock. The company's shares were down 9.10% following the announcement.
ShockWave Medical's Q2 earnings miss and the subsequent lowering of the price target by Wells Fargo likely contributed to the drop in the company's share price. However, the company's revenue beat and raised 2023 guidance may help to mitigate some of the negative impact in the short term.
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