Nio's Units Ramp But Margins Remain Pressured: Analysts Provide Q1 Takeaways
Portfolio Pulse from Priya Nigam
Nio Inc (NYSE:NIO) reported first-quarter results with a 7% year-on-year and 42% sequential decline in revenues, missing consensus estimates. Analysts from Goldman Sachs and Mizuho Securities maintained Neutral ratings with price targets of $4.10 and $5.50, respectively. Despite weaker-than-expected revenues, Nio guided to higher-than-consensus vehicle deliveries and revenues for the June quarter.
June 07, 2024 | 4:48 pm
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NEUTRAL IMPACT
Nio Inc reported a significant decline in Q1 revenues, missing consensus estimates. Despite this, the company guided to higher-than-consensus vehicle deliveries and revenues for Q2. Analysts from Goldman Sachs and Mizuho Securities maintained Neutral ratings with price targets of $4.10 and $5.50, respectively.
The Q1 results showed a significant decline in revenues, which is a negative indicator. However, the guidance for higher Q2 deliveries and revenues provides a positive outlook. The Neutral ratings from analysts suggest a balanced view, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100