Forward looking guidance is made by the company for the next quarter in the current quarter. Missing guidance means that company which lot of visibility into it

Forward looking guidance is made by the company for the next quarter in the current quarter. Missing guidance means that company which lot of visibility into its sales and operations had unanticipated changes to its operations and that is generally bad. Analysts estimates are made by Wall Street predicting performance of the company without insider info (in theory), top analysts generally get access to companies they cover while company management are not supposed to disclose any material non public information in such meetings, even when following the law to letter lot of indirect information would become available, Matt Levine has written often on Regulation FD [1] . The point is estimates have some basis in fact and information as well. [1] https://www.bloomberg.com/opinion/articles/2021-03-09/sec-goes-after-analyst-foreshadowing https://www.bloomberg.com/opinion/articles/2021-03-09/sec-go...