Quanterix Corporation (NASDAQ:QTRX) Just Released Its Annual Results And Analysts Are Updating Their Estimates
It's been a good week for Quanterix Corporation (NASDAQ:QTRX) shareholders, because the company has just released its latest annual results, and the shares gained 8.6% to US$27.00. The statutory results were mixed overall, with revenues of US$122m in line with analyst forecasts, but losses of US$0.86 per share, some 2.7% larger than the analysts were predicting. 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.
See our latest analysis for Quanterix
Taking into account the latest results, the consensus forecast from Quanterix's five analysts is for revenues of US$140.3m in 2024. This reflects a decent 15% improvement in revenue compared to the last 12 months. Per-share losses are supposed to see a sharp uptick, reaching US$1.00. Before this earnings announcement, the analysts had been modelling revenues of US$138.2m and losses of US$0.98 per share in 2024.
As a result there was no major change to the consensus price target of US$33.00, implying that the business is trading roughly in line with expectations despite ongoing losses. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Quanterix, with the most bullish analyst valuing it at US$35.00 and the most bearish at US$31.00 per share. This is a very narrow spread of estimates, implying either that Quanterix is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.
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 Quanterix's revenue growth is expected to slow, with the forecast 15% annualised growth rate until the end of 2024 being well below the historical 20% 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 6.1% annually. Even after the forecast slowdown in growth, it seems obvious that Quanterix is also expected to grow faster than the wider 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. 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.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for Quanterix going out to 2026, and you can see them free on our platform here.
We don't want to rain on the parade too much, but we did also find 2 warning signs for Quanterix that you need to be mindful of.
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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.
