These Analysts Cut Their Forecasts On Archer Aviation Following Q3 Results
Avi Kapoor 2 hours ago
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Archer Aviation beat Q3 revenue estimates but missed EPS; shares rose 8.3%. Analysts cut price targets to $10 and $7.
Archer Aviation Inc (NYSE:ACHR) posted mixed financial results for the third quarter on Monday.
Archer reported $5.10 million of total revenue for the third quarter, beating estimates of approximately $3.57 million, according to Benzinga Pro. The company posted a third-quarter loss of 35 cents per share, missing estimates for a loss of 34 cents per share.
“I started Archer to unlock the skies, and we are now doing that across both commercial and defense,” said Adam Goldstein, founder and CEO of Archer.
Archer Aviation shares gained 8.3% to $4.81 in pre-market trading.
These analysts made changes to their price targets on Archer Aviation following earnings announcement.
- Cantor Fitzgerald analyst Andres Sheppard maintained the stock with an Overweight rating and lowered the price target from $11 to $10.
- Needham analyst Chris Pierce maintained the stock with a Buy and lowered the price target from $9 to $7.
Considering buying ACHR stock? Here’s what analysts think:
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