Brilliant Earth shares are trading lower after the company reported worse-than-expected Q2 revenue results and issued FY24 net sales guidance below estimates. Additionally, William Blair downgraded the stock from Outperform to Market Perform.
Portfolio Pulse from Benzinga Newsdesk
Brilliant Earth shares are trading lower after the company reported worse-than-expected Q2 revenue results and issued FY24 net sales guidance below estimates. Additionally, William Blair downgraded the stock from Outperform to Market Perform.
August 09, 2024 | 5:54 pm
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NEGATIVE IMPACT
Brilliant Earth shares are trading lower due to disappointing Q2 revenue results and lower-than-expected FY24 net sales guidance. William Blair downgraded the stock from Outperform to Market Perform.
The combination of worse-than-expected Q2 revenue results and lower FY24 net sales guidance is likely to negatively impact investor sentiment. The downgrade by William Blair further adds to the negative outlook, making a short-term price decline likely.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100