Cryoport, Inc. (NASDAQ:CYRX) Just Reported Yearly Earnings: Have Analysts Changed Their Mind On The Stock?

It's been a mediocre week for Cryoport, Inc. (NASDAQ:CYRX) shareholders, with the stock dropping 15% to US$14.73 in the week since its latest annual results. Revenues were in line with expectations, at US$233m, while statutory losses ballooned to US$2.21 per share. 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. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

View our latest analysis for Cryoport

After the latest results, the nine analysts covering Cryoport are now predicting revenues of US$245.8m in 2024. If met, this would reflect a reasonable 5.4% improvement in revenue compared to the last 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 36% to US$1.40. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$253.2m and losses of US$0.98 per share in 2024. While this year's revenue estimates dropped there was also a very substantial increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.

There was no major change to the consensus price target of US$17.61, signalling that the business is performing roughly in line with expectations, despite lower earnings per share forecasts. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Cryoport analyst has a price target of US$22.00 per share, while the most pessimistic values it at US$14.50. 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.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Cryoport's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Cryoport's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 5.4% growth on an annualised basis. This is compared to a historical growth rate of 42% over the past five years. Compare this to the 62 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 6.1% per year. So it's pretty clear that, while Cryoport's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.

The Bottom Line

The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Cryoport. Sadly, they also downgraded their revenue forecasts, but the business is still expected to grow at roughly the same rate as the industry itself. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Cryoport going out to 2026, and you can see them free on our platform here.

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Cryoport that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.