Shares of Brilliant Earth Group (NASDAQ: BRLT) plunged over 25% after it reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.07, which beat analysts’ consensus estimate of $0.05 per share.
In addition, sales increased by 17% year-over-year, with revenue hitting $111.4 million. This beat analysts’ target by $0.19 million.
However, BRLT’s sales outlook disappointed greatly. Indeed, management is expecting revenue for Q4 2022 to be in the range of $116 million to $126 million. For reference, analysts were expecting $146.88 million.
Is BRLT Stock a Good Buy?
BRLT stock has a Strong Buy consensus rating based on four Buys, one Hold, and zero Sells assigned in the past three months. The average BRLT stock price target of $9.40 implies 58.52% upside potential.
