Published on 20 Mar 2024 on Zacks via Yahoo Finance
Here's Why You Should Retain Accuray (ARAY) Stock for Now
Accuray Incorporated ARAY is well-poised for growth in the coming quarters, courtesy of continued solid demand for its products. The optimism led by the second quarter of fiscal 2024 performance and potential in Precision Treatment Planning System (TPS) are expected to contribute further. However, overdependence on technologies and stiff competition persists.
Over the past year, this Zacks Rank #3 (Hold) stock has lost 10.7% against the 9.2% rise of the industry. The S&P 500 has witnessed 28.6% growth in the said time frame.
The renowned radiation oncology company has a market capitalization of $275.7 million. Accuray projects 50% growth for fiscal 2024, in which it expects to maintain its strong performance. The company’s P/S ratio of 0.6 is favorable to the industry’s 3.5.