CEVA - CEVA: Sticking With The Prior Outlook Despite Being Behind Schedule
2024-05-22 05:31:43 ET
Summary
- CEVA had a disappointing Q1, but it partially negated the fallout by sticking with its prior outlook for the rest of the year.
- CEVA stock came close to falling below support after a disappointing report, but it recovered in time, although a breakdown remains a possibility.
- China played a role in the drop in sales and there is reason to believe the likelihood of further weakness should not be dismissed.
- CEVA could multiply in value if it achieves the targets laid out, but it will need to catch up and do better to hit those targets.
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CEVA: Sticking With The Prior Outlook Despite Being Behind Schedule