Ranpak Holdings Analysts Increase Their Forecasts Following Q4 Results
Portfolio Pulse from Avi Kapoor
Ranpak Holdings Corp. (NYSE:PACK) reported Q4 revenue surpassing expectations with a GAAP loss of 11 cents per share against an expected 3 cents. Sales reached $90.4 million, beating estimates of $87.042 million. The company experienced a 10.3% year-over-year revenue increase to $93.9 million, attributed to growth in North America and Europe/APAC. Adjusted EBITDA rose by 89.1% to $24.4 million. For 2024, Ranpak anticipates 6% to 12% net revenue growth and 5% to 16% AEBITDA growth. Following the report, PACK shares surged 42.8% to $6.24. Analysts from Baird and TD Cowen adjusted their price targets to $7 and $11, respectively.
March 12, 2024 | 4:49 pm
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Ranpak Holdings Corp. reported higher-than-expected Q4 revenue and Adjusted EBITDA growth, with shares jumping 42.8% following the announcement. Analysts have raised their price targets.
The positive earnings report, showing both revenue and EBITDA growth exceeding expectations, directly impacts investor sentiment and stock valuation. The subsequent share price surge and analyst price target adjustments further underscore the positive short-term outlook for PACK.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100