These Analysts Cut Their Forecasts On Applied Optoelectronics After Q4 Results
Portfolio Pulse from Avi Kapoor
Applied Optoelectronics, Inc. (NASDAQ:AAOI) reported Q4 results with adjusted earnings of 4 cents per share and sales of $60.45 million, missing market estimates. The company forecasts a Q1 adjusted loss of 33 to 28 cents per share, with revenue expectations significantly below market estimates. Despite this, shares rose 6% to close at $20.35. Analysts from B. Riley Securities and Rosenblatt adjusted their price targets and ratings post-results.
February 23, 2024 | 12:48 pm
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Applied Optoelectronics reported lower-than-expected Q4 sales and forecasts a significant Q1 loss, yet shares rose 6%. Analysts adjusted their price targets and ratings.
Despite missing sales estimates and forecasting a significant loss for Q1, AAOI's share price increased, indicating mixed market reactions. Analysts' adjustments in price targets and ratings reflect a cautious outlook, suggesting a neutral short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100