Quanterix Corporation (NASDAQ:QTRX) Yearly Results: Here's What Analysts Are Forecasting For This Year

Investors in Quanterix Corporation (NASDAQ:QTRX) had a good week, as its shares rose 8.6% to close at US$27.00 following the release of its full-year results. The statutory results were mixed overall, with revenues of US$122m in line with analyst forecasts, but losses of US$0.86 per share, some 2.7% larger than the analysts were predicting. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for Quanterix

Following the latest results, Quanterix's five analysts are now forecasting revenues of US$140.3m in 2024. This would be a solid 15% improvement in revenue compared to the last 12 months. Per-share losses are supposed to see a sharp uptick, reaching US$1.00. Before this earnings announcement, the analysts had been modelling revenues of US$138.2m and losses of US$0.98 per share in 2024.

As a result there was no major change to the consensus price target of US$33.00, implying that the business is trading roughly in line with expectations despite ongoing losses. 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. Currently, the most bullish analyst values Quanterix at US$35.00 per share, while the most bearish prices it at US$31.00. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Quanterix's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Quanterix's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 15% growth on an annualised basis. This is compared to a historical growth rate of 20% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.1% annually. So it's pretty clear that, while Quanterix's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at US$33.00, 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 estimates - from multiple Quanterix analysts - going out to 2026, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 2 warning signs for Quanterix 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.