In This Article:
BioLife Solutions, Inc. (NASDAQ:BLFS) just released its quarterly report and things are looking bullish. Revenue crushed expectations at US$32m, beating expectations by 24%. BioLife Solutions reported a statutory loss of US$0.22 per share, which - although not amazing - was much smaller than the analysts predicted. 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. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
See our latest analysis for BioLife Solutions
Following the recent earnings report, the consensus from six analysts covering BioLife Solutions is for revenues of US$120.1m in 2024. This implies a definite 13% decline in revenue compared to the last 12 months. Losses are predicted to fall substantially, shrinking 49% to US$0.70. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$100.8m and losses of US$1.06 per share in 2024. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to this year's revenue estimates, while at the same time reducing their loss estimates.
It will come as no surprise to learn thatthe analysts have increased their price target for BioLife Solutions 5.8% to US$23.43on the back of these upgrades. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values BioLife Solutions at US$30.00 per share, while the most bearish prices it at US$20.00. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.
Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 16% by the end of 2024. This indicates a significant reduction from annual growth of 37% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 6.5% annually for the foreseeable future. It's pretty clear that BioLife Solutions' revenues are expected to perform substantially worse than the wider industry.