Why Is Medpace Stock Diving On Tuesday?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
0mins
Source: Benzinga
Financial Performance: Medpace Holdings reported an 8.3% year-over-year revenue increase to $533.3 million for Q3, missing expectations, while EBITDA rose 31.7%. The company also lowered its FY24 revenue forecast and noted a net book-to-bill ratio of 1.00x.
Market Reaction and Analyst Insights: MEDP shares fell 8.76% following the earnings report, with analysts suggesting that elevated cancellations may have affected bookings. Despite this, there is potential for investors to buy the dip if gross bookings stabilize and management clarifies the situation.
Analyst Views on AMID
Wall Street analysts forecast AMID stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMID is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 35.332
Low
Averages
High
Current: 35.332
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
