Growth Investors: Industry Analysts Just Upgraded Their Vox Royalty Corp. (TSE:VOXR) Revenue Forecasts By 12%

Vox Royalty Corp. (TSE:VOXR) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. Investor sentiment seems to be improving too, with the share price up 4.1% to CA$3.05 over the past 7 days. Could this big upgrade push the stock even higher?

Following the upgrade, the most recent consensus for Vox Royalty from its three analysts is for revenues of US$13m in 2023 which, if met, would be a solid 16% increase on its sales over the past 12 months. Before the latest update, the analysts were foreseeing US$12m of revenue in 2023. It looks like there's been a clear increase in optimism around Vox Royalty, given the substantial gain in revenue forecasts.

View our latest analysis for Vox Royalty

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. It's pretty clear that there is an expectation that Vox Royalty's revenue growth will slow down substantially, with revenues to the end of 2023 expected to display 35% growth on an annualised basis. This is compared to a historical growth rate of 91% over the past three years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 14% per year. So it's pretty clear that, while Vox Royalty's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Vox Royalty this year. They're also forecasting more rapid revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Vox Royalty.

That's a pretty serious upgrade, but shareholders might be even more pleased to know that forecasts expect Vox Royalty to be able to reach break-even within the next few years. For more information, you can click through to our free platform to learn more about these forecasts.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.