Roper Tech set for worst day in four years on lower-than-expected profit forecast

Roper Technologies

24/07/2024 15:26

** Shares of software firm Roper Technologies  ROP.O  slump
8.3% to $526.45
    ** Stock second-biggest loser on Nasdaq 100  .NDX  after
Tesla's  TSLA.O  12% fall; on track for its worst day since
March 2020
    ** Co forecasts Q3 profit below estimates on weak spending
and delayed contract renewals by its target industries
    ** Q2 revenue and profit also fall short of estimates
    ** Average rating of 16 brokerages covering stock is "buy",
median PT $624.13
    ** Stock up 5.3% YTD, compared with 17.4% rise in NDX

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))