Analysts' Revenue Estimates For Lucira Health, Inc. (NASDAQ:LHDX) Are Surging Higher

Lucira Health, Inc. (NASDAQ:LHDX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

After the upgrade, the three analysts covering Lucira Health are now predicting revenues of US$145m in 2022. If met, this would reflect a sizeable 351% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$107m in 2022. It looks like there's been a clear increase in optimism around Lucira Health, given the chunky increase in revenue forecasts.

Check out our latest analysis for Lucira Health

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's clear from the latest estimates that Lucira Health's rate of growth is expected to accelerate meaningfully, with the forecast 234% annualised revenue growth to the end of 2022 noticeably faster than its historical growth of 111% p.a. over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 8.9% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Lucira Health to grow faster than the wider 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 Lucira Health.

Analysts are definitely bullish on Lucira Health, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including a short cash runway. For more information, you can click through to our platform to learn more about this and the 2 other risks we've identified .

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.

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.

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