Rainbows and Unicorns: The WinWay Technology Co., Ltd. (TWSE:6515) Analyst Just Became A Lot More Optimistic

Shareholders in WinWay Technology Co., Ltd. (TWSE:6515) may be thrilled to learn that the covering analyst has just delivered a major upgrade to their near-term forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with the analyst modelling a real improvement in business performance.

After this upgrade, WinWay Technology's solitary analyst is now forecasting revenues of NT$6.3b in 2024. This would be a major 59% improvement in sales compared to the last 12 months. Statutory earnings per share are presumed to soar 115% to NT$37.72. Previously, the analyst had been modelling revenues of NT$5.6b and earnings per share (EPS) of NT$32.67 in 2024. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.

See our latest analysis for WinWay Technology

It will come as no surprise to learn that the analyst has increased their price target for WinWay Technology 14% to NT$1,258 on the back of these upgrades.

Of course, another way to look at these forecasts is to place them into context against the industry itself. The analyst is definitely expecting WinWay Technology's growth to accelerate, with the forecast 153% annualised growth to the end of 2024 ranking favourably alongside historical growth of 13% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 17% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analyst also expect WinWay Technology to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that the analyst upgraded their earnings per share estimates for this year, expecting improving business conditions. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. Given that the consensus looks almost universally bullish, with a substantial increase to forecasts and a higher price target, WinWay Technology could be worth investigating further.

Still, the long-term prospects of the business are much more relevant than next year's earnings. We have analyst estimates for WinWay Technology going out as far as 2025, and you can see them free on our platform here.

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 backed by insiders.

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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.