As we enter the year 2024, analysts have been actively sharing their assessments of Inari Medical (NASDAQ:NARI), offering a wide range of perspectives from bullish to bearish. Let’s take a closer look at their recent ratings and how sentiments have evolved over the past 30 days, comparing them to previous months:
– Bullish: In the last 30 days, one analyst has expressed a bullish outlook, with no previous bullish ratings in the preceding months.
– Somewhat Bullish: Another analyst has shown a somewhat bullish sentiment in the past 30 days, with no previous ratings of this nature in the previous months.
– Indifferent: Two analysts have remained indifferent, with no significant changes in their assessments. However, one analyst has shifted from an indifferent stance to a slightly bearish outlook, while another analyst has moved from an indifferent position to a somewhat bullish sentiment.
– Somewhat Bearish: Currently, there are no analysts expressing a somewhat bearish outlook.
– Bearish: Similarly, there are no analysts holding a bearish view on Inari Medical.
Turning our attention to the 12-month price targets, analysts have presented an average target of $73.0 for Inari Medical. The highest estimate stands at $85.00, while the lowest estimate is $65.00. Notably, the current average target has increased by 1.86% from the previous average of $71.67.
In terms of recent analyst actions, we have Mike Matson from Needham announcing a Buy rating with a $72.00 price target. Richard Newitter from Truist Securities has raised the Hold rating to $70.00 from $65.00. On the other hand, Adam Maeder from Piper Sandler has lowered the Overweight rating to $85.00 from $90.00.
According to TipRanks, Inari Medical holds a consensus rating of Strong Buy, based on 6 Buy ratings, 1 Hold rating, and 0 Sell ratings. The average price target stands at $80.00.
Over the past year, the consensus rating for Inari Medical stock has been Moderate Buy, based on the assessments of 5 analysts.
Overall, the average analyst rating for Inari Medical stock is “Buy,” indicating their belief that this stock is likely to outperform the market in the next twelve months.
NARI Stock Shows Modest Gains with Slight Upward Momentum
On January 23, 2024, NARI stock showed modest gains as it traded in the middle of its 52-week range and below its 200-day simple moving average. The stock had a price increase of $0.06 since the market last closed, representing a rise of 0.10%. NARI shares closed at $57.55 and rose by an additional $0.76 in pre-market trading.
NARI’s performance on this day indicates a slight upward momentum, albeit a modest one. Trading within the middle of its 52-week range suggests that the stock has not experienced any significant price swings in the past year. This stability may be seen as a positive sign for investors who prefer less volatile stocks.
Furthermore, NARI’s price being below its 200-day simple moving average indicates that the stock has been trading at a lower level compared to its long-term average price. This could potentially be a concern for investors as it suggests a bearish trend over the long term. However, it is important to note that the 200-day moving average is just one indicator among many, and investors should consider other factors before making any investment decisions.
The price increase of $0.06 since the market last closed may seem small, but it still represents a positive movement for NARI stock. This rise of 0.10% shows that there is some buying interest in the stock, which could be attributed to positive news or market sentiment surrounding the company.
In pre-market trading, NARI stock rose by an additional $0.76. Pre-market trading refers to the buying and selling of stocks before the regular market trading hours. While pre-market trading can provide some insight into market sentiment, it is important to note that these trades may not accurately reflect the stock’s performance once the market opens. Therefore, investors should exercise caution when interpreting pre-market movements.
Overall, NARI stock’s performance on January 23, 2024, indicates a modest upward momentum, with a slight price increase since the market last closed. However, the stock remains below its 200-day simple moving average, suggesting a bearish trend over the long term. Investors should carefully evaluate all available information and consider their own investment goals and risk tolerance before making any decisions regarding NARI stock.
NARI Stock Performance Analysis: Total Revenue, Net Income, and EPS in January 2024
NARI Stock Performances on January 23, 2024: A Closer Look
On January 23, 2024, NARI stock experienced significant changes in its financial performance. By analyzing the data provided by CNN Money, we can gain insights into the company’s total revenue, net income, and earnings per share (EPS) for the past year and the third quarter of 2023.
Starting with the total revenue, NARI reported a total revenue of $383.47 million for the past year. This figure represents a 38.45% increase compared to the previous year’s revenue. Furthermore, the company’s total revenue for the third quarter of 2023 stood at $126.37 million, reflecting a 6.19% increase since the previous quarter.
The positive growth in total revenue indicates that NARI has been successful in generating more sales and expanding its business operations.
Moving on to net income, NARI reported a net loss of $29.27 million for the past year. This figure represents a significant decrease of 397.43% compared to the previous year’s net income. However, the company managed to turn things around in the third quarter of 2023, reporting a net income of $3.16 million. This represents a substantial increase of 51.65% since the previous quarter.
The drastic decrease in net income for the past year may raise concerns among investors and stakeholders. However, the significant improvement in the third quarter indicates that NARI has taken steps to address its financial challenges and improve its profitability.
Lastly, let’s examine the earnings per share (EPS) figures. NARI reported an EPS of -$0.55 for the past year, indicating a decrease of 412.94% compared to the previous year. However, in the third quarter of 2023, the company reported an EPS of $0.05, reflecting an increase of 51.69% since the previous quarter.
The increase in EPS for the third quarter suggests that NARI has made progress in improving its profitability on a per-share basis.
In conclusion, NARI stock experienced notable changes in its financial performance on January 23, 2024. The company witnessed a significant increase in total revenue, both on a yearly and quarterly basis. Although NARI reported a net loss for the past year, it managed to turn things around in the third quarter, reporting a positive net income. Additionally, the company’s EPS showed improvement in the third quarter, indicating progress in enhancing profitability on a per-share basis. Investors and stakeholders should closely monitor NARI’s future financial reports to assess the sustainability of these positive trends.
