What's Going On With Nextracker Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Nextracker Inc. (NASDAQ:NXT) shares surged after the company reported better-than-expected Q4 earnings and revenue. The company posted earnings of 96 cents per share, beating the consensus estimate of 78 cents, and revenue of $736.51 million, surpassing the estimate of $683.43 million. Despite a strong fiscal year 2024, the fiscal year 2025 outlook fell short of analyst expectations. Analysts have mixed reactions, with some lowering their price targets while maintaining positive ratings.
May 15, 2024 | 6:37 pm
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POSITIVE IMPACT
Nextracker Inc. reported strong Q4 earnings and revenue, beating analyst estimates. The company also highlighted significant growth and a record backlog. However, the fiscal year 2025 outlook fell short of expectations, leading to mixed analyst reactions and some lowered price targets.
The strong Q4 performance and significant growth in fiscal year 2024 are positive indicators for Nextracker's stock. However, the fiscal year 2025 outlook falling short of expectations and mixed analyst reactions may temper the enthusiasm. Overall, the short-term impact is likely positive due to the immediate strong earnings report.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100