On March 5, 2024, Morten Herholdt, an analyst at HSBC, decided to maintain his Reduce rating on bluebird bio (NASDAQ:BLUE) while decreasing the price target from $2.31 to $1.02. This change was made after a thorough review of the company’s financial prospects. In a separate move, HSBC also downgraded Home Depot from a Hold to a Reduce rating, setting a new price target of $323.
BLUE Stock Plummets 2.24% Below 200-Day Moving Average on March 5, 2024
On March 5, 2024, BLUE stock experienced a decline in its performance, trading near the bottom of its 52-week range and below its 200-day simple moving average. The price of BLUE shares dropped by $0.03 since the market last closed, representing a 2.24% decrease. The stock closed at $1.53, and further dropped by $0.02 in pre-market trading.
BLUE Stock Analysis: Positive Growth in Revenue, Net Income, and EPS on March 5, 2024
On March 5, 2024, BLUE stock had a mixed performance based on the financial data provided by CNN Money. The company’s total revenue for the past year was $3.60 million, which remained flat compared to the previous year. However, in the third quarter of the fiscal year, the total revenue surged to $12.39 million, marking a significant increase of 79.85% compared to the previous quarter.
The net income for BLUE showed improvement over the past year. The net income for the past year was -$266.58 million, but in the third quarter, it improved to -$71.73 million, representing a 67.47% increase compared to the previous year. Additionally, the net income increased by 1.61% since the last quarter.
Earnings per share (EPS) for BLUE also displayed positive growth trends. The EPS for the past year was -$3.39, but in the third quarter, it improved to -$0.66, marking a significant increase of 71.47% compared to the previous year. Furthermore, the EPS increased by 1.98% since the last quarter.
Overall, the financial performance of BLUE on March 5, 2024, showed positive improvements in total revenue, net income, and earnings per share compared to the previous year and the last quarter. Investors may view these positive trends as a promising sign for the company’s future growth and profitability. However, it is essential to conduct further analysis and research before making any investment decisions based on this information.
