SmartRent Expects Total Revenue Of $47M-$53M For Q1 (Est $64.92M), $260M-$290M For 2024 (Est $289.256M)
Portfolio Pulse from Benzinga Newsdesk
SmartRent forecasts its Q1 total revenue to be between $47M-$53M, falling short of the estimated $64.92M. For 2024, the company projects revenues of $260M-$290M, slightly below the estimated $289.256M.
March 05, 2024 | 1:06 pm
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NEGATIVE IMPACT
SmartRent's Q1 revenue forecast significantly misses analysts' expectations, and its 2024 revenue projection is also below estimates.
Missing revenue forecasts can lead to negative investor sentiment and potentially lower stock prices in the short term. SmartRent's announcement of lower-than-expected revenue for both Q1 and the full year 2024 indicates potential challenges ahead, which could impact investor confidence and the stock's performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100