RxSight gains as brokerages lift PT on upbeat prelim 2024 revenue forecast

RxSight

08/01/2024 16:13

** Shares of RxSight  RXST.O  up about ~20% at $44.3  
    ** Ophthalmic medical device co on Sunday reported upbeat
prelim un-audited 2024 revenue outlook and prelim Q4'23 sales 
    ** Reported prelim Q4'23 revenue of $28.6 mln vs estimates
of $27.43 mln - LSEG data 
    ** Sees fiscal 2023 prelim revenue of $89.1 mln vs analysts'
estimates $87.79 mln 
    ** RxSight expects FY'24 revenue of $128 mln to $135 mln vs
estimates of about $127 mln 
    ** Prelim cash, cash equivalents and short-term investments
as of December 31, 2023, is expected to be $127.2 mln 
    ** At least three brokerages raise stock's PT, including
Needham (to $41 from $35) and Stifel (to $45 from $40), after co
reported prelim results 
    ** All eight brokerages covering the stock rate it "buy" or
higher; median PT is $44 - LSEG data 
    ** Stock gained threefold in 2023 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))