Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Adjusted earnings per share fell 17 percent year over year, to 48 cents, below the Wall Street's consensus of 58 cents and the management's guidance range of 55-60 cents. Revenue increased 1 percent year over year, to $248 million. The Wall Street analysts expected $258 million, while the management's guidance was in a range of $255 and $260 million.
After reviewing the results, William Blair's Brian Drab decided to downgrade the stock from Outperform to Market Perform, because of following five reasons:
- The company has reported disappointing results for several quarters in a row.
- The management doesn't have the ability to provide dependable financial guidance. It was reaffirmed 19 days before the end of the quarter and the results came well below.
- The Fiery digital server business is increasingly challenged. It was supposed to return to growth in the 2H 2017, but it is now expected to decline at a double-digit rate in the fourth quarter.
- Growth in the industrial inkjet business has been elusive. There are signs that demand for additional equipment has softened.
- Despite the clear opportunity associated with the technology, Drab is skeptical regarding management's sales forecast for the Nozomi corrugated printer.
Drab said that he still sees Electronics For Imaging as a leader in the industrial printing industry, and he expects it to benefit from the transition from analog to digital printing. He added that it has the best-in-class corrugated printer.
Taking all factors into account, Drab reduced his adjusted EPS forecast for 2018 from $2.78 to $2.06.
At time of publication, shares of Electronics For Imaging were down 30.57 percent at $29.25.
Related Link: Friday's Biggest Mover: PhaseRX Diagnosis Dismal, Here's What Drove Shares DownCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.