Akoya Biosciences, Inc. (NASDAQ:AKYA) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

There's been a notable change in appetite for Akoya Biosciences, Inc. (NASDAQ:AKYA) shares in the week since its first-quarter report, with the stock down 10% to US$9.69. Results overall were mixed; even though revenues of US$17m beat expectations by 13%, statutory losses were US$0.44 per share, 14% larger than what the analysts had forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

View our latest analysis for Akoya Biosciences

Taking into account the latest results, the consensus forecast from Akoya Biosciences' four analysts is for revenues of US$71.2m in 2022, which would reflect a solid 19% improvement in sales compared to the last 12 months. Losses are expected to increase substantially, hitting US$1.55 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$69.9m and losses of US$1.37 per share in 2022. While this year's revenue estimates held steady, there was also a noticeable increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.

The consensus price target held steady at US$20.25, seemingly implying that the higher forecast losses are not expected to have a long term impact on the company's valuation. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Akoya Biosciences, with the most bullish analyst valuing it at US$25.00 and the most bearish at US$18.00 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

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. We would highlight that Akoya Biosciences' revenue growth is expected to slow, with the forecast 27% annualised growth rate until the end of 2022 being well below the historical 37% growth over the last year. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 8.0% annually. So it's pretty clear that, while Akoya Biosciences' revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most important thing to take away is that the analysts increased their loss per share estimates for next year. Fortunately, they also reconfirmed their revenue numbers, suggesting sales are tracking in line with expectations - and our data suggests that revenues are expected to grow faster than the wider industry. The consensus price target held steady at US$20.25, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Akoya Biosciences going out to 2024, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 3 warning signs for Akoya Biosciences you should be aware of.

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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.