Yahoo Finance Here's What Analysts Are Forecasting For SI-BONE, Inc. (NASDAQ:SIBN) After Its First-Quarter Results
SI-BONE, Inc. (NASDAQ:SIBN) just released its latest first-quarter results and things are looking bullish. Results overall were credible, with revenues arriving 3.7% better than analyst forecasts at US$38m. Higher revenues also resulted in lower statutory losses, which were US$0.27 per share, some 3.7% smaller than the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
View our latest analysis for SI-BONE
Taking into account the latest results, the consensus forecast from SI-BONE's nine analysts is for revenues of US$165.2m in 2024. This reflects a solid 15% improvement in revenue compared to the last 12 months. The loss per share is expected to ameliorate slightly, reducing to US$0.95. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$163.6m and losses of US$1.00 per share in 2024. It looks like there's been a modest increase in sentiment in the recent updates, with the analysts becoming a bit more optimistic in their predictions for losses per share, even though the revenue numbers were unchanged.
The average price target held steady at US$25.56, seeming to indicate that business is performing in line with expectations. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on SI-BONE, with the most bullish analyst valuing it at US$32.00 and the most bearish at US$20.00 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 20% growth on an annualised basis. That is in line with its 18% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 8.1% per year. So it's pretty clear that SI-BONE is forecast to grow substantially faster than its industry.
The Bottom Line
The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at US$25.56, with the latest estimates not enough to have an impact on their price targets.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple SI-BONE analysts - going out to 2026, and you can see them free on our platform here.
Even so, be aware that SI-BONE is showing 3 warning signs in our investment analysis , 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.
