Why Array Stock Popped Today
Portfolio Pulse from Ryan Gustafson
Array Technologies, Inc. (NASDAQ:ARRY) reported Q2 earnings of 47 cents per share, beating the analyst consensus estimate of 18 cents. The company also reported quarterly sales of $507.70 million, surpassing the analyst consensus estimate of $448.84 million. Array anticipates full-year 2023 revenue between $1.65 billion and $1.725 billion. JP Morgan analyst Mark Strouse maintained Array Technologies with an Overweight and raised the price target from $33 to $35.
August 09, 2023 | 6:52 pm
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Array Technologies beat Q2 earnings and sales estimates and anticipates strong 2023 revenue. JP Morgan raised the price target for the company.
Array Technologies reported strong Q2 earnings and sales, beating analyst estimates. The company also provided a strong revenue forecast for 2023. This positive financial performance and outlook, coupled with JP Morgan's raised price target, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100