Enovix Sees Q1 2024 Adj. EPS $(0.35)-$(0.29) Vs $(0.24) Est.; Revenue $3.5M-$4.5M Vs $4.56M Est.
Portfolio Pulse from Benzinga Newsdesk
Enovix forecasts its Q1 2024 adjusted EPS to be between $(0.35) and $(0.29), missing the $(0.24) estimate. Revenue is expected to be between $3.5M and $4.5M, falling short of the $4.56M estimate.
February 20, 2024 | 9:24 pm
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Enovix's Q1 2024 earnings and revenue forecasts fall short of analyst expectations, indicating potential downward pressure on its stock price.
Missing both earnings and revenue estimates typically leads to negative investor sentiment and can result in a decrease in stock price. Given that Enovix has missed on both fronts, it is likely to experience short-term downward pressure on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100