How did INMD's Q3 earnings surprise impact investor confidence?

**InMode's (INMD) Q3 earnings surprise had a significant impact on investor confidence**, as evidenced by the following:

1. **Earnings Surprise**: InMode reported quarterly earnings of $0.34 per share for Q3, which was a surprise given the consensus estimate was $0.30 per share. This positive surprise indicates the company's performance was better than expected.
2. **Stock Reaction**: Despite the earnings surprise, InMode's stock reached a 52-week low of $15.4 amid market challenges. This suggests that while the earnings report may have initially boosted confidence, broader market factors and investor sentiment played a more significant role in the stock's performance.
3. **Guidance and Future Expectations**: InMode's guidance for FY2024 EPS and revenue fell slightly below consensus estimates. This could lead to concerns among investors about the company's long-term growth prospects, potentially offsetting the positive impact of the earnings surprise.
4. **Institutional Investor Activity**: Acadian Asset Management LLC increased its position in InMode by 63.6% during Q2, indicating confidence from institutional investors. However, the average rating from analysts remains "Hold," with a consensus target price of $22.40, suggesting a cautious outlook.
5. **Market Challenges**: InMode faces significant challenges, including decreased demand for treatments, supply and component shortages, and competition from counterfeit products. These factors contribute to investor uncertainty and may overshadow the positive effects of the earnings surprise.

In conclusion, while InMode's Q3 earnings surprise may have initially boosted investor confidence, the overall impact on the stock and future expectations is complex and influenced by various market and company-specific factors.