Analysts Just Published A Bright New Outlook For InMode
Shareholders in InMode (NASDAQ: INMD) will be thrilled to learn that analysts have delivered a major upgrade to their near-term forecasts. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with a much more bullish outlook on the company’s business prospects. After the upgrade, analysts are predicting revenues of $183M in 2020, reflecting a 15% improvement over the last 12 months.
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Shark Bites: InMode Gets Back to Rally Mode
James DePorre, a Real Money contributor, author and CEO of Shark Investing, writes that InMode (NASDAQ: INMD) is growing rapidly and had strong quarter-over-quarter growth with steady improvement in the stock. InMode announced that it anticipates record revenues in the third quarter of 2020 of $59.2M to $59.5M, versus analyst expectations of just $38.2M. Earnings are expected to be in the range of $0.60 to $0.62 per share versus analyst expectations of $0.46. The company’s 2020 revenue estimate jumps to around $192M from estimates of $160M and should produce a substantial jump in EPS. These numbers substantially surpass market estimates. With numbers this strong, I anticipate that INMD to be the success that I believed it would be back in January.
If You Had Bought InMode Stock A Year Ago, You Could Pocket A 61% Gain Today
The InMode (NASDAQ:INMD) share price is up 61% in the last year, clearly besting the market return of around 20%. Share price momentum remains respectable, with a gain of 51% in the last three months. This suggests the company is continuing to win over new investors. If it can keep that out-performance up over the long term, investors will do very well!
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Moving Average Crossover Alert: InMode
InMode Ltd. INMD is looking like an interesting pick as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for INMD broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend. The stock has moved higher by 8.9% in the past four weeks, plus InMode has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate. Investors are advised to watch this breakout candidate closely for more gains in the near future.
InMode Sets 2020 Stretch Goal To Exceed 2019 Revenue
Since its IPO in August 2019, InMode’s (Nasdaq: INMD) stock price has risen 60.8 percent vs. the U.S. Medical Equipment index’ rise of just 17.2 percent. InMode commercializes its innovative minimally invasive and non-invasive technologies, including adipose fat tissue remodeling, capitalizing on the global medical aesthetics market which is projected to reach $18.9 billion by 2024.
InMode has managed its business through the Covid-19 pandemic for long-term success and is positioned to meet or exceed 2019’s revenue results, so I’m bullish on the stock over the medium term,” says Donovan Jones, founder of IPO Edge.