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.
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Earnings And Outlook
The company reported EPS of $0.71, below the prior consensus $0.73 and BMO's $0.74 estimate. The number also came in at the low end of management guidance of $0.70–$0.76.
Also, the third quarter EPS outlook of $0.68–$0.74 was well below the prior consensus $0.81 and BMO's $0.80 estimate.
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Analyst Take
Although "loathe" to make this type of rating change, analyst Jeffrey Silber said, "The weak revenue trends (same day, constant currency basis) were relatively broad-based, ranging from 'early cycle' OfficeTeam to 'later-cycle' permanent placement."
Despite acknowledging that some of the dampened third-quarter guidance was because of "expected revenue disruption and expenses of migrating to new IT systems," the analyst said deteriorating top-line trends cannot be ignored.
"[W]ith its client base getting 'incrementally more cautious,' it gives us some pause as to whether the company can meaningfully reaccelerate growth again this cycle. As such, it's tough for us to continue to recommend this name," Silber wrote in a note.
In addition, Silber cut his EPS estimates for third quarter to $0.72 from $0.80; 2016 to $2.81 from $2.97; and 2017 to $2.96 from $3.18. The analyst also slashed his price target to $36 from $45.
At the time of writing, shares of Robert Half had plunged 11.87 percent on the day to $36.53.
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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.