These Analysts Cut Their Forecasts On CarParts.com Following Q2 Loss
Portfolio Pulse from Avi Kapoor
CarParts.com (NASDAQ:PRTS) reported a Q2 loss of 15 cents per share, missing market expectations. Sales also fell short of estimates. Following the earnings report, RBC Capital downgraded the stock and lowered its price target, while Lake Street maintained a Buy rating but also reduced its price target. Shares fell 13.8% to $1.0350.
July 31, 2024 | 6:07 pm
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CarParts.com reported a Q2 loss of 15 cents per share, missing market expectations. Sales also fell short of estimates. RBC Capital downgraded the stock and lowered its price target, while Lake Street maintained a Buy rating but reduced its price target. Shares fell 13.8% to $1.0350.
The company's earnings report showed a larger-than-expected loss and missed sales estimates, leading to a significant drop in share price. Analyst downgrades and lowered price targets further indicate negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100