Audinate Loses Bull Following Surprise Profit Warning -- Market Talk

Dow Jones

2024-10-23

2157 GMT - Audio-visual tech provider Audinate's second earnings downgrade in less than three months costs it a bull. Jefferies downgrades the stock to hold, from buy, and slashes its price target by 25% to A$9.00/share. Analyst Wei Sim says the first profit warning was expected, but the latest came as a surprise. "Though management have called out a stronger 2H, given the limited near-term visibility, we have erred on the side of caution," Jefferies says. It doesn't see gross profit growth happening before FY 2026 and lowers its revenue forecasts for FY 2025-2027 by 23%-30%. Audinate ended Tuesday at A$8.96. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 22, 2024 17:57 ET (21:57 GMT)

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(david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 22, 2024 17:57 ET (21:57 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477739417","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477739417","pubTimestamp":1729634220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2157 GMT - Audio-visual tech provider Audinate's second earnings downgrade in less than three months costs it a bull. 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