ModivCare Sees Q1 2024 Revenue $650M-$700M Vs $702.031M Est.
Portfolio Pulse from Benzinga Newsdesk
ModivCare projects its Q1 2024 revenue to be between $650M and $700M, which is below the estimated $702.031M.

February 22, 2024 | 9:45 pm
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NEGATIVE IMPACT
ModivCare's projected Q1 2024 revenue is below market expectations, indicating potential short-term negative impact on its stock price.
Revenue projections that fall short of market estimates typically lead to negative investor sentiment in the short term, potentially causing a decrease in stock price. Given that ModivCare's projected revenue is below the estimated figures, it is likely to negatively impact investor confidence and, consequently, the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100