Analysis of Veracyte Inc. (NASDAQ:VCYT): Selected Notes

The closing price of Veracyte Inc. (NASDAQ: VCYT) was $26.37 for the day, up 1.81% from the previous closing price of $25.90. In other words, the price has increased by $+0.47 from its previous closing price. On the day, 700225 shares were traded. VCYT stock price reached its highest trading level at $26.37 during the session, while it also had its lowest trading level at $25.55.

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Our analysis of VCYT’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 3.90 and its Current Ratio is at 4.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Stephens on January 07, 2022, initiated with a Overweight rating and assigned the stock a target price of $52.

On June 15, 2021, Raymond James started tracking the stock assigning a Outperform rating and target price of $45.Raymond James initiated its Outperform rating on June 15, 2021, with a $45 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Nov 11 when Kennedy Giulia C sold 2 shares for $29.34 per share. The transaction valued at 59 led to the insider holds 68,001 shares of the business.

JONES EVAN/ FA sold 6,000 shares of VCYT for $181,357 on Nov 11. The Director now owns 52,451 shares after completing the transaction at $30.23 per share. On Nov 04, another insider, Kennedy Giulia C, who serves as the Chief Scientific & Med Officer of the company, sold 1,023 shares for $25.00 each. As a result, the insider received 25,575 and left with 68,001 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 6.95 while its Price-to-Book (P/B) ratio in mrq is 1.80.

Stock Price History:

Over the past 52 weeks, VCYT has reached a high of $49.80, while it has fallen to a 52-week low of $14.85. The 50-Day Moving Average of the stock is 19.84, while the 200-Day Moving Average is calculated to be 22.36.

Shares Statistics:

VCYT traded an average of 1.01M shares per day over the past three months and 1.1M shares per day over the past ten days. A total of 71.66M shares are outstanding, with a floating share count of 71.03M. Shares short for VCYT as of Oct 13, 2022 were 3.88M with a Short Ratio of 3.80M, compared to 3.61M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.42% and a Short% of Float of 6.15%.

Earnings Estimates

The firm’s stock currently is rated by 7 analysts. On average, analysts expect EPS of -$0.25 for the current quarter, with a high estimate of -$0.19 and a low estimate of -$0.29, while EPS last year was -$0.2. The consensus estimate for the next quarter is -$0.22, with high estimates of -$0.16 and low estimates of -$0.26.

Analysts are recommending an EPS of between -$0.68 and -$0.89 for the fiscal current year, implying an average EPS of -$0.82. EPS for the following year is -$0.66, with 7 analysts recommending between -$0.32 and -$0.96.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 7 analysts. It ranges from a high estimate of $68.59M to a low estimate of $64.41M. As of the current estimate, Veracyte Inc.’s year-ago sales were $60.37M, an estimated increase of 10.10% from the year-ago figure. For the next quarter, 7 analysts are estimating revenue of $71.07M, an increase of 5.50% less than the figure of $10.10% in the same quarter last year. There is a high estimate of $72.2M for the next quarter, whereas the lowest estimate is $69.19M.

A total of 8 analysts have provided revenue estimates for VCYT’s current fiscal year. The highest revenue estimate was $279.27M, while the lowest revenue estimate was $274M, resulting in an average revenue estimate of $277.79M. In the same quarter a year ago, actual revenue was $219.51M, up 26.50% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $318.72M in the next fiscal year. The high estimate is $326.62M and the low estimate is $308M. The average revenue growth estimate for next year is up 14.70% from the average revenue estimate for this year.