Why DexCom Stock Is Trading Lower Friday
Portfolio Pulse from Dylan Berman
DexCom, Inc. (NASDAQ:DXCM) shares are trading lower after the company reported worse-than-expected second quarter revenue and issued weak guidance. Despite beating EPS estimates, the revenue miss and lowered guidance led to multiple analyst downgrades and price target reductions.
July 26, 2024 | 2:39 pm
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DexCom reported Q2 revenue of $1.04 billion, missing estimates of $1.36 billion, and issued weak guidance for Q3 and FY 2024. Despite beating EPS estimates, the revenue miss and lowered guidance led to a significant drop in stock price and multiple analyst downgrades.
DexCom's significant revenue miss and weak guidance have led to a sharp decline in its stock price. Multiple analysts have downgraded the stock and lowered their price targets, indicating a negative short-term outlook.
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