Castle Biosciences Increases FY23 Revenue From $180M To $200M Vs $187.07M Est.
Portfolio Pulse from Benzinga Newsdesk
Castle Biosciences has increased its FY23 revenue forecast from $180M to $200M, which is higher than the estimated $187.07M.
November 02, 2023 | 9:59 pm
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POSITIVE IMPACT
Castle Biosciences has raised its FY23 revenue forecast, which is expected to positively impact its stock price.
Companies that raise their revenue forecasts typically see a positive reaction in their stock price as it indicates better than expected performance. Given that Castle Biosciences' new forecast is also higher than the estimate, it is likely to be viewed positively by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100