Insights Ahead: Enovix's Quarterly Earnings

Enovix (NASDAQ:ENVX) is gearing up to announce its quarterly earnings on Tuesday, 2024-10-29. Here's a quick overview of what investors should know before the release.

Analysts are estimating that Enovix will report an earnings per share (EPS) of $-0.20.

The announcement from Enovix is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.

It's worth noting for new investors that guidance can be a key determinant of stock price movements.

Past Earnings Performance

During the last quarter, the company reported an EPS beat by $0.09, leading to a 19.15% drop in the share price on the subsequent day.

Here's a look at Enovix's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

-0.23

-0.29

-0.27

-0.23

EPS Actual

-0.14

-0.31

-0.28

-0.19

Price Change %

-19.0%

45.0%

-9.0%

15.0%

Market Performance of Enovix's Stock

Shares of Enovix were trading at $10.41 as of October 25. Over the last 52-week period, shares are up 28.73%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release.

Analyst Views on Enovix

For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Enovix.

The consensus rating for Enovix is Outperform, ...