ModivCare shares are trading lower after the company reported Q4 financial results and issued Q1 revenue guidance below estimates. Multiple firms downgraded the stock and lowered their respective price targets.
Portfolio Pulse from Benzinga Newsdesk
ModivCare's stock trades lower following its Q4 financial results and Q1 revenue guidance, which fell below estimates. The company faced downgrades and reduced price targets from multiple firms.

February 23, 2024 | 3:58 pm
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ModivCare's shares are trading lower due to Q4 financial results and Q1 revenue guidance not meeting expectations, leading to downgrades and lower price targets from analysts.
The negative reaction in ModivCare's stock price is directly tied to its reported financial performance and future revenue outlook, which did not meet analyst expectations. This has led to a loss of confidence among investors, reflected in stock downgrades and reduced price targets by multiple firms. Such financial results and subsequent analyst actions typically have a direct and negative short-term impact on a company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100