Penumbra shares are trading lower after the company reported Q2 financial results and cut its FY24 revenue guidance below estimates. Also, Piper Sandler maintained an Overweight rating on the stock and lowered its price target from $260 to $200.
Portfolio Pulse from Benzinga Newsdesk
Penumbra shares are trading lower after the company reported Q2 financial results and cut its FY24 revenue guidance below estimates. Piper Sandler maintained an Overweight rating on the stock but lowered its price target from $260 to $200.
July 31, 2024 | 11:32 am
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Penumbra shares are trading lower due to disappointing Q2 financial results and a cut in FY24 revenue guidance. Piper Sandler maintained an Overweight rating but lowered the price target from $260 to $200.
The company's Q2 financial results were below expectations, and the cut in FY24 revenue guidance indicates potential challenges ahead. The lowered price target from Piper Sandler further adds to the negative sentiment, likely leading to a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100