Update from 10x Genomics Inc. (TXG): A steady trajectory

The closing price of 10x Genomics Inc. (NASDAQ: TXG) was $35.16 for the day, down -0.40% from the previous closing price of $35.30. In other words, the price has decreased by -$0.14 from its previous closing price. On the day, 993928 shares were traded. TXG stock price reached its highest trading level at $35.28 during the session, while it also had its lowest trading level at $33.08.

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Our analysis of TXG’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 4.30 and its Current Ratio is at 5.00. 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 the company, Goldman on August 18, 2022, Downgraded its rating to Sell and sets its target price to $35 from $55 previously.

On July 25, 2022, Canaccord Genuity started tracking the stock assigning a Buy rating and target price of $55.

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 Aug 23 when McAnear Justin J. sold 987 shares for $35.19 per share. The transaction valued at 34,734 led to the insider holds 58,092 shares of the business.

Saxonov Serge sold 2,715 shares of TXG for $95,544 on Aug 23. The Chief Executive Officer now owns 966,102 shares after completing the transaction at $35.19 per share. On Aug 23, another insider, Hindson Benjamin J., who serves as the insider of the company, sold 1,292 shares for $35.19 each. As a result, the insider received 45,467 and left with 186,246 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 8.50 while its Price-to-Book (P/B) ratio in mrq is 5.17.

Stock Price History:

Over the past 52 weeks, TXG has reached a high of $157.74, while it has fallen to a 52-week low of $23.81. The 50-Day Moving Average of the stock is 30.53, while the 200-Day Moving Average is calculated to be 48.18.

Shares Statistics:

TXG traded an average of 1.26M shares per day over the past three months and 1.59M shares per day over the past ten days. A total of 114.11M shares are outstanding, with a floating share count of 90.75M. Insiders hold about 1.90% of the company’s shares, while institutions hold 90.40% stake in the company. Shares short for TXG as of Oct 13, 2022 were 4.92M with a Short Ratio of 5.69M, compared to 5.21M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.32% and a Short% of Float of 5.36%.

Earnings Estimates

The firm’s stock currently is rated by 8 analysts. On average, analysts expect EPS of -$0.46 for the current quarter, with a high estimate of -$0.38 and a low estimate of -$0.61, while EPS last year was -$0.15. The consensus estimate for the next quarter is -$0.35, with high estimates of -$0.23 and low estimates of -$0.5.

Analysts are recommending an EPS of between -$1.57 and -$2.05 for the fiscal current year, implying an average EPS of -$1.76. EPS for the following year is -$1.24, with 8 analysts recommending between -$0.45 and -$1.66.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 6 analysts. It ranges from a high estimate of $130.5M to a low estimate of $128.1M. As of the current estimate, 10x Genomics Inc.’s year-ago sales were $122.62M, an estimated increase of 5.70% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $150.92M, an increase of 5.10% less than the figure of $5.70% in the same quarter last year. There is a high estimate of $154.8M for the next quarter, whereas the lowest estimate is $145.6M.

A total of 8 analysts have provided revenue estimates for TXG’s current fiscal year. The highest revenue estimate was $512.75M, while the lowest revenue estimate was $505.3M, resulting in an average revenue estimate of $509.87M. In the same quarter a year ago, actual revenue was $490.49M, up 4.00% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $632.24M in the next fiscal year. The high estimate is $657.14M and the low estimate is $599.99M. The average revenue growth estimate for next year is up 24.00% from the average revenue estimate for this year.