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2021-08-10

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SmileDirectClub Stock Tumbled 24% After Results Prompt Rating, Target Cuts

Shares of SmileDirectClub (SDC) tumbled on Tuesday after the online dental-equipment maker missed an

SmileDirectClub Stock Tumbled 24% After Results Prompt Rating, Target Cuts

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Morgan slashed its price target to $6 a share from $10 while reducing its rating to underweight from neutral.</p>\n<p>And William Blair analyst John Kreger cut his recommendation on the company to market perform from outperform.</p>\n<p>SmileDirectClub shares at last check were down 24% to $5.1.</p>\n<p>The Nashville company reported a second-quarter net loss of 14 cents a share on revenue of $174.2 million.</p>\n<p>Analysts surveyed by FactSet were expecting the company to report a net loss of 12 cents a share on revenue of $198.5 million.</p>\n<p>For the year, the company expects revenue of $750 million to $800 million. FactSet's call for the year: $783.4 million.</p>\n<p>The company said theApril cyberattackand the \"lasting economic effects from COVID on our target demographic\" played a role in the company's quarterly results.</p>\n<p>But the company's CEO is optimistic about SmileDirectClub's prospects.</p>\n<p>The company aims to extend its telehealth platform for orthodontia by emphasizing customer experience, improving consumer perception around credibility and driving positive sentiment with its Challenger campaign, Chief Executive David Katzman said in a statement.</p>\n<p>The company also plans to reallocate marketing dollars from Facebook&nbsp;(<b>FB</b>)&nbsp;to television as part of its Challenger marketing strategy.</p>\n<p>Sales and marketing as a percentage of total revenue is expected to be in the 50% to 55% range through the second half, SmileDirectClub said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SmileDirectClub Stock Tumbled 24% After Results Prompt Rating, Target Cuts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSmileDirectClub Stock Tumbled 24% After Results Prompt Rating, Target Cuts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 22:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/smiledirectclub-stock-drops-after-q2-results-analyst-rating-cut><strong>Thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of SmileDirectClub (SDC) tumbled on Tuesday after the online dental-equipment maker missed analysts' estimates for the second quarter.\nJ.P. Morgan slashed its price target to $6 a share from $...</p>\n\n<a href=\"https://www.thestreet.com/investing/smiledirectclub-stock-drops-after-q2-results-analyst-rating-cut\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SDC":"SmileDirectClub, Inc."},"source_url":"https://www.thestreet.com/investing/smiledirectclub-stock-drops-after-q2-results-analyst-rating-cut","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105606565","content_text":"Shares of SmileDirectClub (SDC) tumbled on Tuesday after the online dental-equipment maker missed analysts' estimates for the second quarter.\nJ.P. 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FactSet's call for the year: $783.4 million.\nThe company said theApril cyberattackand the \"lasting economic effects from COVID on our target demographic\" played a role in the company's quarterly results.\nBut the company's CEO is optimistic about SmileDirectClub's prospects.\nThe company aims to extend its telehealth platform for orthodontia by emphasizing customer experience, improving consumer perception around credibility and driving positive sentiment with its Challenger campaign, Chief Executive David Katzman said in a statement.\nThe company also plans to reallocate marketing dollars from Facebook (FB) to television as part of its Challenger marketing strategy.\nSales and marketing as a percentage of total revenue is expected to be in the 50% to 55% range through the second half, SmileDirectClub said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}