Inogen, Inc. (Nasdaq: INGN) issued a preliminary, unaudited financial update for the second quarter of 2023, revealing lower-than-expected revenue figures.

The company estimates that total revenue for the quarter will fall within the range of $83 million to $84 million, which is below the analysts' consensus expectation of $94.36 million.

The revenue shortfall was primarily driven by lower-than-anticipated performance in both the US and International business-to-business segments, as well as decreased direct-to-consumer revenue, despite ongoing productivity improvements. However, Inogen experienced some growth in rental revenue, reflecting its strategic emphasis on US prescribers.

In pre-market, $INGN is currently trading at $10.00, showing a decline of $0.26 (-2.53%).

In other news, Microsoft Corporation (Nasdaq: MSFT), a leading technology company renowned for its software and hardware products, received an upgrade from Neutral to Buy by UBS, accompanied by a price target increase from $345 to $400. 

With $MSFT closing at $342.66 on Thursday, the revised price target implies a potential upside of $57.34 or approximately 16.73%, based on the view of the investment firm.

The potential upside for Microsoft is derived from UBS's assessments and views, showcasing the investment services firm's analysis and expectations regarding the stock's growth potential. It is advisable for investors to carefully consider these opinions before making any investment decisions.

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