CryoPort shares are trading lower after the company reported mixed Q2 financial results and issued FY24 revenue guidance below estimates. Also, Needham maintained a Buy rating on the stock and lowered its price target from $18 to $11.
Portfolio Pulse from Benzinga Newsdesk
CryoPort shares are trading lower after the company reported mixed Q2 financial results and issued FY24 revenue guidance below estimates. Needham maintained a Buy rating on the stock but lowered its price target from $18 to $11.
August 07, 2024 | 12:00 pm
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NEGATIVE IMPACT
CryoPort shares are trading lower due to mixed Q2 financial results and FY24 revenue guidance below estimates. Needham maintained a Buy rating but lowered its price target from $18 to $11.
The mixed Q2 results and lower-than-expected FY24 revenue guidance are likely to negatively impact investor sentiment. The reduction in the price target by Needham, despite maintaining a Buy rating, further adds to the negative outlook in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100