Hewlett Packard Enterprise shares are trading lower after the company reported worse-than-expected Q1 revenue results and issued Q2 guidance and FY24 EPS guidance below estimates. Also, multiple firms lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Hewlett Packard Enterprise (HPE) shares dropped following disappointing Q1 revenue results and lower-than-expected Q2 and FY24 EPS guidance. Additionally, several firms have reduced their price targets for HPE.
March 01, 2024 | 12:36 pm
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HPE shares declined due to poor Q1 revenue, and lower future earnings guidance. Price targets were also reduced by several firms.
The direct mention of HPE's disappointing Q1 revenue and lowered future earnings guidance, coupled with the reduction in price targets by multiple firms, suggests a negative short-term impact on HPE's stock price. These factors typically lead to a loss of investor confidence and can result in a decrease in stock price.
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