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Home Breaking News

Analyst Ben Haynor Recommends Buying Shares of Profound Medical with Revised Price Target

Elaine Mendonca by Elaine Mendonca
March 11, 2024
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Analyst Ben Haynor from Alliance Global Partners continues to recommend buying shares of Profound Medical (NASDAQ: PROF) with a revised price target of $10.80, down from $12.75. Haynor’s updated forecast takes into account the company’s expected growth and market value as of March 11, 2024.

PROF Stock Price Declines on March 11, 2024, Trading Near 52-Week Low

On March 11, 2024, PROF stock experienced a decrease in its price, trading near the bottom of its 52-week range and below its 200-day simple moving average. The stock opened at $8.00, $0.04 lower than its previous close, representing a 0.50% drop in price since the market last closed.

PROF Stock Performance Analysis: Revenue Increases, Net Loss Widens

On March 11, 2024, PROF stock performance showed some interesting trends based on the financial data provided by CNN Money. The company’s total revenue for the past year was reported at $7.20 million, with a 7.75% increase compared to the previous year. However, the total revenue for the last quarter was $2.01 million, holding flat since the previous quarter.

In terms of net income, PROF reported a net loss of $28.57 million for the past year, with a slight 0.35% increase compared to the previous year. However, the net income for the last quarter was -$8.91 million, showing a significant decrease of 60.12% since the previous quarter.

Earnings per share (EPS) for PROF stock were reported at -$1.35 for the past year, with a 2.01% increase compared to the previous year. However, the EPS for the last quarter was -$0.42, showing a substantial decrease of 59.43% since the previous quarter.

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Elaine Mendonca

Elaine Mendonca

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