Expert Outlook: Silk Road Medical Through The Eyes Of 5 Analysts
Portfolio Pulse from Benzinga Insights
Silk Road Medical (NASDAQ:SILK) has been evaluated by 5 analysts over the last three months, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target has been reduced by 67.3% to $13.00, with a high estimate of $20.00 and a low of $8.00. Analysts from Lake Street, Piper Sandler, Citigroup, B. Riley Securities, and Stifel have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Silk Road Medical specializes in reducing stroke risk with its TCAR procedure and has shown a revenue growth rate of 18.89% as of September 30, 2023.
January 03, 2024 | 8:00 pm
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Silk Road Medical has seen a recent bullish turn from analysts, with one new bullish rating and no bearish ratings in the last 30 days. However, the average price target has been significantly reduced, indicating a negative sentiment shift. The company's strong revenue growth and innovative TCAR procedure may counterbalance the lowered price targets.
The mixed analyst ratings and significant reduction in price targets suggest uncertainty, which could lead to short-term volatility in SILK's stock price. However, the company's solid revenue growth and the potential of its TCAR procedure to become the standard of care for carotid artery disease may provide positive support to the stock. The recent bullish rating adds a positive note, but the lowered price targets cannot be ignored.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100