Investors in Tribe Property Technologies Inc. (CVE:TRBE) had a good week, as its shares rose 3.1% to close at CA$1.65 following the release of its third-quarter results. It wasn't the greatest result, with ongoing losses and revenues of CA$4.5m falling short of analyst predictions. The losses were a relative bright spot though, with a per-share statutory loss of CA$0.13 being moderately smaller than the analysts forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
See our latest analysis for Tribe Property Technologies
After the latest results, the dual analysts covering Tribe Property Technologies are now predicting revenues of CA$24.9m in 2023. If met, this would reflect a substantial 46% improvement in sales compared to the last 12 months. The loss per share is expected to ameliorate slightly, reducing to CA$0.40. Yet prior to the latest earnings, the analysts had been forecasting revenues of CA$26.9m and losses of CA$0.34 per share in 2023. While next year's revenue estimates dropped there was also a notable increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.
The consensus price target fell 13% to CA$3.50, with the analysts clearly concerned about the company following the weaker revenue and earnings outlook.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We can infer from the latest estimates that forecasts expect a continuation of Tribe Property Technologies'historical trends, as the 35% annualised revenue growth to the end of 2023 is roughly in line with the 30% annual revenue growth over the past year. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 16% annually. So it's pretty clear that Tribe Property Technologies is forecast to grow substantially faster than its industry.
The Bottom Line
The most important thing to take away is that the analysts increased their loss per share estimates for next year. Regrettably, they also downgraded their revenue estimates, but the latest forecasts still imply the business will grow faster than the wider industry. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of Tribe Property Technologies' future valuation.