Why Blink Charging Stock Is Sliding Thursday
Portfolio Pulse from Adam Eckert
Blink Charging Co (NASDAQ:BLNK) shares are trading lower after the company reported worse-than-expected Q2 financial results and lowered its full-year 2024 revenue guidance. The company also updated its timeline to achieve adjusted EBITDA during 2025. Needham analyst Chris Pierce maintained a Buy rating but lowered the price target from $6 to $4.
August 08, 2024 | 2:41 pm
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Blink Charging Co reported Q2 revenue of $33.26 million, missing analyst estimates of $39.15 million. The company also posted a larger-than-expected loss per share and lowered its full-year 2024 revenue guidance. Needham analyst Chris Pierce maintained a Buy rating but lowered the price target from $6 to $4.
The company's Q2 financial results were worse than expected, with revenue and EPS missing estimates. Additionally, the lowered full-year 2024 revenue guidance and updated timeline for achieving adjusted EBITDA are likely to negatively impact investor sentiment. The reduction in the price target by Needham further underscores the negative outlook.
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