Where NeoGenomics Stands With Analysts
Portfolio Pulse from Benzinga Insights
NeoGenomics (NASDAQ:NEO) has received mixed analyst ratings over the past three months, with a recent shift towards a more bullish outlook. The average 12-month price target for NEO has increased to $20.5, reflecting a 2.5% rise from the previous target of $20.00. Analysts from Needham, Piper Sandler, and Goldman Sachs have adjusted their price targets and ratings, indicating changing perspectives on the company's market performance and financial health. NeoGenomics operates in genetic testing for cancer and has shown a revenue growth rate of 12.15% as of December 31, 2023, but lags in net margin and ROA compared to industry averages.
April 30, 2024 | 6:00 pm
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POSITIVE IMPACT
NeoGenomics has seen a positive shift in analyst sentiment, with an updated average price target suggesting a modest upside potential. The company's financial performance shows strong revenue growth but faces profitability and asset utilization challenges.
The increase in the average price target and the mix of bullish and somewhat bullish ratings indicate a positive short-term outlook for NEO. However, the company's below-average net margin and ROA, along with its market capitalization being below industry average, suggest that while there is optimism, there are also significant challenges that could temper short-term gains.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100