Yahoo Finance Cryoport, Inc. (NASDAQ:CYRX) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
Cryoport, Inc. (NASDAQ:CYRX) just released its latest quarterly report and things are not looking great. It was a pretty negative result overall, with revenues of US$55m missing analyst predictions by 7.3%. Worse, the business reported a statutory loss of US$0.43 per share, much larger than the analysts had forecast prior to the result. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
See our latest analysis for Cryoport
After the latest results, the nine analysts covering Cryoport are now predicting revenues of US$243.0m in 2024. If met, this would reflect a meaningful 8.0% improvement in revenue compared to the last 12 months. Losses are predicted to fall substantially, shrinking 44% to US$1.37. Before this latest report, the consensus had been expecting revenues of US$245.9m and US$1.24 per share in losses. While this year's revenue estimates held steady, there was also a notable increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.
As a result, there was no major change to the consensus price target of US$18.00, with the analysts implicitly confirming that the business looks to be performing in line with expectations, despite higher forecast losses. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Cryoport, with the most bullish analyst valuing it at US$20.00 and the most bearish at US$15.00 per share. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that Cryoport's revenue growth is expected to slow, with the forecast 11% annualised growth rate until the end of 2024 being well below the historical 37% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.5% annually. So it's pretty clear that, while Cryoport's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.
The Bottom Line
The most important thing to take away is that the analysts increased their loss per share estimates for next year. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Cryoport analysts - going out to 2026, and you can see them free on our platform here.
And what about risks? Every company has them, and we've spotted 3 warning signs for Cryoport you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
