Accuray shares are trading lower after the company reported worse-than-expected Q3 financial results and issued FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Accuray's stock price declined following the announcement of disappointing Q3 financial results and a revenue forecast for FY24 that fell short of expectations.
May 02, 2024 | 3:40 pm
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Accuray's shares are trading lower due to poor Q3 financial performance and pessimistic revenue guidance for FY24.
Stock prices often react negatively to financial results that do not meet expectations, as well as to forecasts suggesting future revenue may also underperform. Accuray's announcement of both weaker-than-expected Q3 results and a lower revenue guidance for FY24 directly impacts investor sentiment and the perceived value of the company, leading to a decrease in stock price.
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