Array Technologies shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued FY23 revenue guidance below estimates. Additionally, Goldman Sachs lowered its price target on the stock from $36 to $31.
Portfolio Pulse from Benzinga Newsdesk
Array Technologies reported lower than expected Q3 revenue and issued FY23 revenue guidance below estimates. Goldman Sachs also lowered its price target on the stock from $36 to $31.
November 08, 2023 | 3:50 pm
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NEGATIVE IMPACT
Array Technologies' lower than expected Q3 revenue and reduced FY23 guidance, along with Goldman Sachs' price target cut, could negatively impact the stock.
Array Technologies' disappointing Q3 revenue and lower FY23 guidance indicate potential financial struggles. Goldman Sachs' price target cut further suggests a lack of confidence in the company's performance, which could lead to a decrease in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100