AtriCure shares are trading lower after the company reported worse-than-expected Q1 adjusted EPS results. Also, Needham and JP Morgan lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
AtriCure's shares dropped following a report of disappointing Q1 adjusted EPS results. Despite the poor performance, Needham retained a Buy rating on ATRC but reduced the price target from $46 to $40.
May 02, 2024 | 4:51 pm
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NEGATIVE IMPACT
AtriCure's stock price declined due to disappointing Q1 adjusted EPS results, although Needham continues to support the stock with a Buy rating, albeit with a reduced price target.
The negative impact on AtriCure's stock price is directly related to the reported lower-than-expected Q1 adjusted EPS results, which typically leads to a decrease in investor confidence and stock price. However, the continued support from Needham with a Buy rating, despite a lower price target, suggests a belief in the company's long-term value, potentially mitigating some of the negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100