10X Genomics Inc TXG:NASDAQ

Last Price$49.63NASDAQ Previous Close - Last Trade as of 4:00PM ET 6/24/22
NASDAQ 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$43.00 (1)
Ask (Size)$50.10 (2)
Day Low / HighN/A - N/A
Volume649.00

Research Alert: CFRA Keeps Buy Opinion On Shares Of 10x Genomics

4:10PM ET 5/05/2022 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $74, cut $44, reflects our updated discounted cash flow model analysis. We widen our expected '22 loss per share by $0.02 to $0.81 but narrow '23's by $0.07 to $0.13. Q1 loss per share of $0.38, vs. $0.11, was $0.04 wider than the consensus view. Revenues in Q1 were $114 million, up 8% year over year, but the pace was markedly improved in March after a slow start in January and February (which TXG believes was Omicron-driven). TXG reiterated revenue guidance in the $600m - $630m range for '22, although we think lockdowns in China represent a significant wild card. The company said it expects the lockdowns to end by mid-May, but our confidence in that timing is low. Longer term, we think customer uptake from new platforms should be strong, but near-term growth rates may be relatively slower.