Premier Analysts Lower Their Forecasts After Q4 Results
Portfolio Pulse from Lisa Levin
Premier Inc (NASDAQ:PINC) reported better-than-expected Q4 earnings but missed sales expectations. The company will not provide 2024 guidance due to its ongoing strategic review. Premier shares fell 8.6% to trade at $21.99 on Wednesday. Several analysts, including Piper Sandler, Canaccord Genuity, B of A Securities, UBS, and Benchmark, lowered their price targets on Premier following the earnings announcement.
August 23, 2023 | 3:35 pm
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Premier Inc's Q4 earnings beat expectations but sales missed, leading to a drop in share price and lowered price targets from several analysts.
Premier Inc's mixed Q4 results, with better-than-expected earnings but missed sales, have led to a negative market reaction, as evidenced by the 8.6% drop in share price. This, coupled with the company's decision not to provide 2024 guidance, has likely contributed to the lowered price targets from several analysts, indicating a potentially negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100