New Forecasts: Here's What Analysts Think The Future Holds For Pivotree Inc. (CVE:PVT)

Pivotree Inc. (CVE:PVT) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's forecasts. The analysts have sharply increased their revenue numbers, with a view that Pivotree will make substantially more sales than they'd previously expected.

After this upgrade, Pivotree's four analysts are now forecasting revenues of CA$89m in 2022. This would be a substantial 44% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing CA$79m of revenue in 2022. It looks like there's been a clear increase in optimism around Pivotree, given the nice increase in revenue forecasts.

View our latest analysis for Pivotree

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Pivotree's past performance and to peers in the same industry. The analysts are definitely expecting Pivotree's growth to accelerate, with the forecast 34% annualised growth to the end of 2022 ranking favourably alongside historical growth of 6.6% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 15% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Pivotree is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for next 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 Pivotree.

Want to learn more? We have analyst estimates for Pivotree going out to 2023, and you can see them free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks 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.