SI-BONE Poised For A Surge: Analyst Highlights Upside Potential With New Product Launches
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst David Saxon reiterated a Buy rating on SI-BONE, Inc (NASDAQ:SIBN), raising the price target to $32 from $27. The analyst expects SIBN to beat and raise in 2Q and sees further upside to 2H23 estimates. Factors such as sales force expansion, surgeon training, new product launches, and increased market penetration are expected to drive quarterly revenue growth. SIBN is predicted to end 2Q with >$150 million in cash and equivalents. The analyst also forecasts an upside on the bottom line throughout 2023.
July 12, 2023 | 5:18 pm
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Needham analyst David Saxon has reiterated a Buy rating on SI-BONE, Inc (NASDAQ:SIBN) and raised the price target to $32 from $27. The analyst expects SIBN to beat and raise in 2Q and sees further upside to 2H23 estimates.
The analyst's positive outlook on SI-BONE, Inc. is based on several factors including sales force expansion, surgeon training, new product launches, and increased market penetration. These factors are expected to drive quarterly revenue growth. The analyst also expects the company to end 2Q with more than $150 million in cash and equivalents. This positive outlook and raised price target could lead to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100