Wolfspeed Analysts Lower Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Wolfspeed, Inc. (NYSE:WOLF) reported a larger-than-expected loss for Q4, missing both earnings and revenue estimates. Analysts have lowered their price targets for the stock, which fell 5% following the announcement.
August 22, 2024 | 4:23 pm
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Wolfspeed reported a Q4 loss of 89 cents per share, missing estimates, and revenue of $200.7 million, also below expectations. Analysts have lowered their price targets, and the stock fell 5%.
Wolfspeed's Q4 results were worse than expected, with both earnings and revenue missing estimates. Analysts responded by lowering their price targets, indicating a negative outlook. The stock's 5% drop reflects investor disappointment and potential short-term pressure on the stock price.
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