Published on 14 May 2023 on Simply Wall St. via Yahoo Finance
PhenomeX Inc. (NASDAQ:CELL) Analysts Just Trimmed Their Revenue Forecasts By 17%
The analysts covering PhenomeX Inc. (NASDAQ:CELL) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. There was a fairly draconian cut to their revenue estimates, perhaps an implicit admission that previous forecasts were much too optimistic.
Following the downgrade, the current consensus from PhenomeX's seven analysts is for revenues of US$80m in 2023 which - if met - would reflect a reasonable 3.8% increase on its sales over the past 12 months. Per-share losses are expected to see a sharp uptick, reaching US$1.12. However, before this estimates update, the consensus had been expecting revenues of US$96m and US$1.12 per share in losses. So there's definitely been a change in sentiment in this update, with the analysts administering a substantial haircut to this year's revenue estimates, while at the same time holding losses per share steady.
See our latest analysis for PhenomeX