Barclays lowered the firm’s price target on InMode (INMD) to $26 from $27 and keeps an Overweight rating on the shares. After ramping production of new products to meet demand in Q3, InMode cited slower demand in Q4, reducing sales outlook for 2024 by about $23M and setting initial 2025 guidance below consensus, the analyst tells investors in a research note. The firm cut its estimates and price target but reiterated its Overweight rating, which assumes that demand begins to improve in 2025.
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Read More on INMD:
- Morning Movers: AngioDynamics jumps following results and guidance raise
- InMode sees Q4 revenue $97M-$97.5M, consensus $117.83M
- InMode sees FY24 revenue $394M-$394.5M, consensus $411.19M
- InMode sees FY25 revenue $395M-$405M, consensus $430.23M
- InMode sees FY24 adjusted gross margin 80%-81%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
