SMART Global Likely To Report Lower Q1 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
SMART Global Holdings, Inc. (NASDAQ:SGH) is expected to report lower Q1 earnings for fiscal year 2024, with analysts predicting earnings of 16 cents per share compared to 79 cents per share a year ago. Revenue is anticipated to be $275 million. The company previously reported Q4 results below expectations and provided Q1 guidance that fell short of estimates. SGH shares rose 2.5% to close at $18.24 on Monday. Analysts from Rosenblatt, Needham, and Deutsche Bank have maintained Buy ratings with price targets ranging from $22 to $35.
January 09, 2024 | 8:36 am
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NEUTRAL IMPACT
SMART Global Holdings is anticipated to report a significant drop in Q1 earnings and has previously issued weaker than expected guidance. Despite this, analysts have maintained Buy ratings with optimistic price targets.
While the expected drop in earnings and previous guidance miss could pressure the stock, the maintained Buy ratings and recent share price increase suggest a neutral short-term impact. Analysts' high accuracy rates and optimistic price targets may counterbalance the negative earnings outlook.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100