## Natera Surprises with Strong Q3 Earnings, Boosts FY24 Revenue Guidance, Shares Soar
Natera, Inc. (NTRA) sent shockwaves through the market on Tuesday after delivering a strong third-quarter earnings report that exceeded expectations on both the top and bottom lines. The company also raised its FY24 revenue guidance, setting the stage for continued growth and sparking a significant surge in its stock price.
The key takeaways from Natera’s Q3 earnings report were:
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Earnings Beat:
Natera reported a quarterly loss of 26 cents per share, significantly beating the analyst consensus estimate of a loss of 58 cents per share. This positive earnings surprise demonstrates the company’s ability to manage costs effectively while driving revenue growth.*
Revenue Exceeds Expectations:
Natera’s quarterly sales reached $439.8 million, exceeding the analyst consensus estimate of $361.45 million. This robust revenue performance underscores the strength of the company’s core business and its ability to capitalize on market opportunities.*
Upward Revision of FY24 Revenue Guidance:
Natera projected FY24 revenue in the range of $1.61 billion to $1.64 billion, surpassing market estimates of $1.518 billion. This bullish guidance reflects the company’s confidence in its future prospects and its ability to deliver sustained growth in the coming year.The market responded enthusiastically to Natera’s strong performance, with shares jumping 22.3% to $165.31 on Wednesday. Several analysts also raised their price targets for the stock, highlighting their belief in Natera’s potential to deliver long-term value for investors.
Among the analysts who boosted their price targets for Natera were:
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Baird:
Catherine Ramsey maintained an Outperform rating and raised the price target from $120 to $160.*
Canaccord Genuity:
Kyle Mikson maintained a Buy rating and raised the price target from $150 to $165.*
JP Morgan:
Julia Qin maintained an Overweight rating and raised the price target from $135 to $160.*
Craig-Hallum:
Alexander Nowak maintained a Buy rating and increased the price target from $121 to $157.*
TD Cowen:
Dan Brennan maintained a Buy rating and boosted the price target from $155 to $175.Natera’s strong Q3 earnings report and upward revision of FY24 revenue guidance have solidified the company’s position as a leading player in the diagnostic testing space. The market’s positive reaction to the news suggests that investors are confident in Natera’s future growth prospects and are eager to participate in its ongoing success.
