Savers Value Village shares are trading lower on continued weakness after the company reported worse-than-expected Q2 financial results and cut its FY24 net sales guidance. Also, Goldman Sachs downgraded the stock from Buy to Neutral and multiple firms lowered their respective price targets.
Portfolio Pulse from Benzinga Newsdesk
Savers Value Village shares are trading lower due to disappointing Q2 financial results and a reduction in FY24 net sales guidance. Additionally, Goldman Sachs downgraded the stock from Buy to Neutral, and multiple firms lowered their price targets.
August 09, 2024 | 12:38 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Savers Value Village shares are trading lower due to worse-than-expected Q2 financial results and a cut in FY24 net sales guidance. Goldman Sachs downgraded the stock from Buy to Neutral, and multiple firms lowered their price targets.
The combination of disappointing Q2 financial results, reduced FY24 net sales guidance, and downgrades from Goldman Sachs and other firms is likely to negatively impact SVV's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100