Analysts made a financial statement on the first quarter report of Bionano Genomics, Inc. (NASDAQ: BNGO)


Bionano Genomics, Inc. (NASDAQ: BNGO) defied analysts’ forecasts by releasing its first quarter results, which were ahead of market expectations. Income and loss per share both exceeded expectations, with income of $ 3.2 million ahead of estimate by 6.6%. Statutory losses were slightly lower than analysts’ expectations, reaching US $ 0.04 per share. Analysts usually update their forecasts with each earnings report, and we can judge from their estimates whether their view of the business has changed or if there are new concerns to consider. We thought readers would find it interesting to see analysts’ latest (statutory) post-earnings forecasts for next year.

Check out our latest review for Bionano Genomics

NasdaqCM: BNGO Earnings and Revenue Growth May 16, 2021

Based on the latest results, the most recent consensus for Bionano Genomics from three analysts is for 2021 revenue of US $ 16.4 million, which, if achieved, would represent a significant increase of 56 % of its sales in the last 12 months. Loss per share is expected to decline significantly in the near future, narrowing 27% to US $ 0.18. Prior to this earnings announcement, analysts had modeled revenues of US $ 16.3 million and losses of US $ 0.19 per share in 2021. So there appears to have been a moderate improvement in analyst sentiment with the latest consensus release, given the upgrade to loss per share. forecast for this year.

There has been no major change to the consensus price target of US $ 13.33, suggesting that the reduced loss estimates are not sufficient to have a positive long-term impact on the valuation of the action. This is not the only conclusion we can draw from this data, however, as some investors also like to factor in the spread in estimates when evaluating analysts’ price targets. There are a few variations of perceptions on Bionano Genomics, with the most bullish analyst valuing it at US $ 14.00 and the most bearish at US $ 12.00 per share. With such a narrow range of valuations, analysts seemingly share similar views on what they think the company is worth.

Another way to view these estimates is in the context of the bigger picture, such as how the forecast compares to past performance and whether the forecast is more or less bullish relative to other companies in the industry. One thing that emerges from these estimates is that Bionano Genomics is expected to grow faster in the future than in the past, with revenues expected to show annualized growth of 81% through the end of 2021. If this is achieved , that would be a much better result than the 7.9% annual drop over the past three years. Compare that to analysts’ estimates for the industry as a whole, which suggest the industry’s revenue (overall) is expected to grow 7.8% per year. So it looks like Bionano Genomics is set to grow faster than its competition, at least for a while.

The bottom line

The most obvious conclusion is that analysts have not changed their forecast for loss next year. Fortunately, there have been no major changes to the revenue forecast, with the business still expected to grow faster than the industry as a whole. The consensus price target remained at US $ 13.33, with the latest estimates not being sufficient to impact their price targets.

Continuing this reflection, we believe that the long-term outlook of the company is much more relevant than the results of next year. We have forecasts for Bionano Genomics through 2025, and you can see them for free on our platform here.

You should always take note of the risks, for example – Bionano Genomics has 3 warning signs (and 1 that shouldn’t be ignored) we think you should be aware of.

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This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative material. Simply Wall St has no position in any of the stocks mentioned.
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