Analysts Raise Forecasts for Tactile Systems Technology Following Stronger-Than-Expected Q3 Earnings
Earnings Report: Tactile Systems Technology Inc reported third-quarter earnings of 36 cents per share, surpassing the analyst consensus estimate of 17 cents, with sales of $85.755 million also exceeding expectations.
Sales Guidance Increase: The company raised its FY2025 sales guidance from a range of $310 million-$315 million to $317 million-$321 million, reflecting confidence in its business transformation and product innovation.
Stock Performance: Following the earnings announcement, Tactile Systems' shares surged by 38.1%, reaching a trading price of $21.78.
Analyst Reactions: Analysts adjusted their price targets for Tactile Systems, with Piper Sandler raising its target from $14 to $20 and Lake Street increasing its target from $23.5 to $32, maintaining a Buy rating.
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Tactile Systems Technology (TCMD) Shows Strong Growth Potential: Is It a Good Investment?
Momentum Investing Overview: Momentum investing involves buying stocks that are trending upwards, with the expectation that they will continue to rise. The Zacks Momentum Style Score helps identify stocks with strong momentum characteristics, such as Tactile Systems Technology (TCMD), which currently has a score of A.
Tactile Systems Technology Performance: TCMD has shown significant price increases, with an 8.44% rise over the past week and a 93.22% increase over the last quarter, outperforming the S&P 500. The stock also has a Zacks Rank of #2 (Buy), indicating strong potential for future gains.
Earnings Estimates and Trading Volume: Recent upward revisions in earnings estimates for TCMD, along with a consistent average trading volume of 753,286 shares, suggest bullish momentum. The consensus estimate for TCMD has increased from $0.62 to $0.80 in the past 60 days.
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Zacks.com Spotlights Tactile Systems, Canadian Natural Resources, Arlo, and Celestica
Highlighted Stocks: The article discusses four efficient stocks to consider for investment: Tactile Systems Technology (TCMD), Canadian Natural Resources Ltd. (CNQ), Arlo Technologies (ARLO), and Celestica (CLS), all of which have shown strong earnings surprises.
Efficiency Ratios: Key efficiency ratios such as Receivables Turnover, Asset Utilization, Inventory Turnover, and Operating Margin are emphasized as important metrics for evaluating a company's potential to generate profits and manage resources effectively.
