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Insiders at four companies with stocks under $2—Eyenovia, Retractable Technologies, Stereotaxis, and VerifyMe—have recently made notable purchases of their company's shares. These transactions can signal insider confidence and are often considered by investors when evaluating penny stocks. Stereotaxis and Retractable Technologies reported downbeat results, while VerifyMe and Eyenovia posted positive updates.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 12:16 pm

INMD

InMode Ltd. has revised its 2023 revenue forecast downwards from the previous range of $500M-$510M to a new range of $485M-$495M. Additionally, the company has adjusted its earnings per share (EPS) outlook from $2.53-$2.57 to $2.47-$2.50.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:09 pm

INMD

InMode Ltd. has revised its full-year 2023 guidance downward due to a slowdown in platform sales, primarily in North America. This revision reflects challenges in the market that may affect the company's revenue and growth expectations for the year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:07 pm

LOVE

Lovesac (NASDAQ:LOVE) reported Q3 earnings with losses per share of $(0.15), outperforming the consensus estimate of $(0.30) by 50%. Year-over-year, this represents a 68.75% improvement from $(0.48) per share. Quarterly sales reached $154.04M, slightly surpassing the $153.81M estimate and marking a 14.28% increase from the previous year's $134.78M.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:03 pm

UNFI

United Natural Foods (UNFI) reported Q1 adjusted EPS of $(0.04), surpassing the $(0.21) estimate, marking an 80.95% beat but a 103.54% decrease from $1.13 per share last year. Sales reached $7.55B, slightly missing the $7.62B estimate by 0.89%, yet representing a 0.27% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:01 pm

MDB

Over the last 3 months, 11 Wall Street analysts have provided ratings for MongoDB (NASDAQ:MDB), with an average 12-month price target of $454.55, a slight decrease from the previous target of $465.00. The ratings include 5 bullish, 5 somewhat bullish, and 1 indifferent, with no bearish sentiments. These ratings are used by investors to help guide stock trading decisions and are updated typically once a quarter.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 12:00 pm

SBAC

Over the past 3 months, 7 Wall Street analysts have provided ratings for SBA Communications (NASDAQ:SBAC) with 1 bullish and 6 somewhat bullish ratings. The average price target is $256.57, representing an implied upside from the current price of $250.39. This target is a 10.02% decrease from the previous target of $285.14. Analysts derive their ratings from company financials, meetings, and insider communications, and update them quarterly or after major company events.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 12:00 pm

DEO

Diageo PLC (NYSE:DEO) is reportedly planning to sell its beer portfolio, excluding Guinness. The sale includes brands like Smithwick's, Kilkenny, and Harp Lager. The beer segment has been a margin drag on Diageo's overall business. Diageo had previously warned of weaker H1 FY24 results, particularly in Latin America and the Caribbean, but expects H2 FY24 to show improvement in organic net sales and operating profit growth. DEO shares saw a slight increase of 0.11% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 06, 2023 | 11:55 am

KFY

Korn Ferry (KFY) forecasts its Q3 FY24 adjusted EPS to be between $0.96 and $1.02, surpassing the consensus estimate of $0.89.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:52 am

CTRN

Citi Trends' Board has implemented a Stockholder Rights Plan after a stockholder rapidly acquired a substantial share count. The plan triggers if a person or group acquires 16% (20% for passive investors) of the outstanding stock, expiring on December 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:49 am