Natera Analysts Increase Their Forecasts Following Upbeat Results

Natera, Inc. NTRA reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates on Tuesday.

Natera reported a quarterly loss of 26 cents per share, which beat the analyst consensus estimate of a loss of 58 cents per share . The company reported quarterly sales of $439.800 million which beat the analyst consensus estimate of $361.450 million.

“Our strong performance in the third quarter reflects our unwavering dedication to the patients we serve and the passion of our employees in each of our business areas,” said Steve Chapman, chief executive officer of Natera. “We grew volumes, revenue, gross margin, and cash flow in what continues to be a transformational year for Natera.”

Natera said it sees FY24 revenue of $1.61 billion to $1.64 billion, versus market estimates of $1.518 billion.

Natera shares jumped 22.3% to trade at $165.31 on Wednesday.

Several analysts made changes to their price targets for Natera following the release of quarterly results.

• Baird analyst Catherine Ramsey maintained Natera with an Outperform and raised the price target from $120 to $160.
• Canaccord Genuity analyst Kyle Mikson maintained the stock with a Buy and raised the price target from $150 to $165.
• JP Morgan analyst Julia Qin maintained Natera with an Overweight and raised the price target from $135 to $160.
• Craig-Hallum analyst Alexander Nowak maintained the stock with a Buy and increased the price target from $121 to $157.
• TD Cowen analyst Dan Brennan maintained Natera with a Buy and boosted the price target from $155 to $175.

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