Party Time: One Broker Just Made Major Increases To Their HeartCore Enterprises, Inc. (NASDAQ:HTCR) Earnings Forecast

Celebrations may be in order for HeartCore Enterprises, Inc. (NASDAQ:HTCR) shareholders, with the covering analyst delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for this year has experienced a facelift, with the analyst now much more optimistic on its sales pipeline.

After this upgrade, HeartCore Enterprises' sole analyst is now forecasting revenues of US$38m in 2024. This would be a major 122% improvement in sales compared to the last 12 months. Before the latest update, the analyst was foreseeing US$29m of revenue in 2024. The consensus has definitely become more optimistic, showing a very substantial lift in revenue forecasts.

Check out our latest analysis for HeartCore Enterprises

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analyst is definitely expecting HeartCore Enterprises' growth to accelerate, with the forecast 4x annualised growth to the end of 2024 ranking favourably alongside historical growth of 29% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 12% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analyst also expect HeartCore Enterprises to grow faster than the wider industry.

The Bottom Line

The highlight for us was that the analyst increased their revenue forecasts for HeartCore Enterprises this year. They're also forecasting more rapid revenue growth than the wider market. The clear improvement in sentiment should be enough to get most shareholders feeling more optimistic about HeartCore Enterprises' future.

The covering analyst is clearly in love with HeartCore Enterprises at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as the risk of cutting its dividend. You can learn more, and discover the 2 other risks we've identified, for 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.

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.