SI-Bone (SIBN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst David Saxon from Needham reiterated a Buy rating on the stock and has a $24.00 price target.
David Saxon has given his Buy rating due to a combination of factors including SI-Bone’s strong financial performance and promising future outlook. The company’s revenue for the fourth quarter of 2024 met expectations, and the management’s revenue guidance for 2025 exceeded market consensus, indicating a positive trajectory.
Additionally, there was a notable increase in procedure volumes and a record number of active surgeons, which are key indicators of the company’s operational growth. The management’s guidance towards achieving adjusted EBITDA profitability in 2025 further supports the optimistic outlook. Saxon believes there is potential for revenue to surpass the guidance, which would enhance profitability, justifying the raised price target to $24.
Saxon covers the Healthcare sector, focusing on stocks such as Globus Medical, Irhythm Technologies, and SI-Bone. According to TipRanks, Saxon has an average return of 0.6% and a 36.28% success rate on recommended stocks.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.