Brilliant Earth Group shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued FY23 revenue guidance below estimates. Also, Telsey Advisory Group lowered its price target from $7 to $4 on the stock.
Portfolio Pulse from Benzinga Newsdesk
Brilliant Earth Group's stock price is down following their reported Q3 revenue shortfall and FY23 revenue guidance that fell short of expectations. Additionally, Telsey Advisory Group has reduced their price target for the company from $7 to $4.
November 10, 2023 | 4:48 pm
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Brilliant Earth Group reported lower than expected Q3 revenue and provided FY23 guidance below estimates, leading to a decrease in stock price. Telsey Advisory Group also lowered their price target for BRLT from $7 to $4.
The reported earnings miss and lowered future revenue guidance are strong indicators of potential financial challenges for Brilliant Earth Group. This negative outlook is compounded by Telsey Advisory Group's significant price target reduction, which can undermine investor confidence and lead to a short-term decline in stock price.
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