Selected stock price target news of the day - May 14th, 2024

By: Matthew Otto

Fulcrum Therapeutics Releases Q1 2024 Financial Results and Clinical Updates

Fulcrum Therapeutics unveiled its first-quarter financial results, revealing a reported EPS of ($0.43), surpassing the analyst estimate by $0.01. Cash, cash equivalents, and marketable securities totaling $213.3 million as of March 31, 2024. This financial standing is bolstered by an $80 million upfront payment expected from Sanofi under their collaboration and license agreement for losmapimod’s global development and commercialization. Additionally, Fulcrum anticipates potentially earning up to $975 million in further regulatory and sales milestones under this agreement.

Fulcrum expects to report topline data from the Phase 3 REACH trial for losmapimod targeting 260 FSHD patients in Q4 2024.

Analysts Mixed Recommendations Following Q1 2024 Earnings

Goldman Sachs analyst Corinne Jenkins upgraded from Neutral to Buy and the price target from $6 to $15.
HC Wainwright & Co. analyst Andrew Fein reiterated a Buy rating and a $17 price target.
Oppenheimer analyst Matthew Biegler maintained an Outperform rating and lowered the price target from $16 to $14.

Which Analyst has the best track record to show on FULC?

Analyst Andrew Fein (HC WAINWRIGHT) currently has the highest performing score on FULC with 8/13 (61.54%) price target fulfillment ratio. His price targets carry an average of $6.68 (64.73%) potential upside. Fulcrum Therapeutics stock price reaches these price targets on average within 164 days.

Agilysys’ Fiscal Year 2024 Earnings Call Highlights Revenue, Profitability, and Growth Outlook

Agilysys has surpassed analyst expectations with its fourth-quarter earnings per share of $0.32, outperforming the consensus estimate of $0.28 by $0.04. Also exceeded revenue projections, reporting fourth-quarter revenue of $62.2 million, slightly surpassing the consensus estimate of $61.95 million, representing a 17.6% increase compared to the prior year.

Full fiscal year revenue soared to $237.5 million, showcasing a 19.9% growth rate over the previous year. Recurring revenue, which includes subscription and services revenue, surged by 16.7%, reaching $138.1 million for the year. Subscription revenue alone experienced 29.6% growth. Moreover, adjusted EBITDA reached $37.1 million for the fiscal year, representing a 22.3% increase over the prior year.

Looking ahead, Agilysys has provided guidance for fiscal year 2025, forecasting revenue in the range of $275 million to $280 million.

Analysts Bullish: Price Targets Raised Amid Positive Outlook

Oppenheimer analyst Brian Schwartz maintained an Outperform rating and raised the price target from $95 to $100.
Needham analyst Mayank Tandon reiterated a Buy rating and the price target of $100.

Which Analyst has the best track record to show on AGYS?

Analyst George Sutton (CRAIG HALLUM) currently has the highest performing score on AGYS with 12/14 (85.71%) price target fulfillment ratio. His price targets carry an average of $18.21 (20.98%) potential upside. Agilysys stock price reaches these price targets on average within 126 days.

Docebo’s Q1 2024 Results: Mixed Performance Raises Concerns Amidst Slowing Growth

Docebo has released its Q1 2024 financial results reporting Q1 earnings per share of $0.23, outperforming the analyst consensus estimate of $0.17 by $0.06. However, total revenue for the quarter came in at $51.4 million, only marginally surpassing the consensus estimate of $51.15 million.

While recurring revenue surged to $41.2 million, marking a 32% increase compared to the same period last year, the company’s ability to attract new customers appears to be slowing down, with only 72 net new customers added during Q1, bringing the total customer count to 2,100.

Looking ahead, Docebo’s guidance for Q2 2024 revenue, projected in the range of $52.2 million to $52.4 million, falls short of market expectations, which were estimated at $53.73 million.

Analysts Adjust Ratings and Price Targets Following Q1 2024 Results

CIBC analyst Stephanie Price maintained an Outperformer rating yet lowered the price target from $58 to $53.
Morgan Stanley analyst Josh Baer maintained an Overweight rating and downgraded the price target from $65 to $59.
Goldman Sachs analyst Kevin Kumar reiterated a Neutral rating and lowered the price target from $55 to $48.
Needham analyst Ryan MacDonald kept a Buy rating and decreased the price target from $63 to $45.

Which Analyst has the best track record to show on DCBO?

Analyst Josh Baer (MORGAN STANLEY) currently has the highest performing score on DCBO with 11/14 (78.57%) price target fulfillment ratio. His price targets carry an average of $22.74 (62.71%) potential upside. Docebo stock price reaches these price targets on average within 213 days.