NIO Stumbles: Q4 Earnings Miss Expectations, Deliveries Dip

NIO Stumbles: Q4 Earnings Miss Expectations, Deliveries Dip

NIO Inc. (NIO: NYE) recently reported their financial results for the Q4 of 2023 which were lower than investors’ and analysts’ expectations. With lower deliveries and revenue projected for Q1 2024, the financial future of NIO could impact its stock value negatively.

NIO Ratings by Stock Target Advisor

Key Insights from NIO’s Q4 Earnings:

Here the key highlights from fourth-quarter earnings of NIO 2023 fiscal year.

  • Revenue increased by 6.5% YoY but fell short of analyst expectations by $110 million
  • Total vehicle deliveries for the quarter reached 40,052 units, a 25% increase YoY but a 9.7% decrease from the previous quarter
  • NIO’s net loss widened significantly, reaching RMB 5.79 billion
  • Adjusted net loss also grew YoY, even excluding stock-based compensation
  • NIO expects deliveries to fall in Q1 2024, projecting a range of 31,000 to 33,000 vehicles

 

Stock Target Advisor’s View on NIO: 

Stock Target Advisor has given NIO’s stock a Strong Sell rating with a target price of $10. Over the next 12 months, they predict a price change of -42.75%. With an average analyst target price for NIO Inc Class A ADR of $12.13, investors should brace for a potential dip in the future.

The weak outlook of the company, with one positive signal and six negative signals, only bolsters the Bearish outlook. Over the past week, month, and year, NIO Inc Class A ADR’s stock price has changed by -0.32%, -0.21%, and -42.75% respectively.

Despite Stock Target Advisor’s bearish outlook, the average rating from the 04 market analysts covering NIO is ‘Buy’ with an average target price of $12.12. Auto Manufacturers on NYE’s sector, however, reports an average analyst rating of a ‘Strong Buy’, with an average 1-month return of 7.48%. 

 

Bottom Line:

NIO’s stock price is likely to feel the impact of this earnings report. Investors were hoping for stronger results, and the company’s missed targets could lead to a decline in share value.

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