Diagnostics company Guardant Health (NASDAQ: GH) will be reporting results this Thursday after the bell. Here’s what you need to know.
Guardant Health beat analysts’ revenue expectations last quarter, reporting revenues of $281.3 million, up 39.4% year on year. It was a strong quarter for the company, with full-year revenue guidance beating analysts’ expectations and a solid beat of analysts’ revenue estimates.
Is Guardant Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Guardant Health’s revenue to grow 36.7% year on year, improving from the 20.8% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Guardant Health has a history of exceeding Wall Street’s expectations.
Looking at Guardant Health’s peers in the testing & diagnostics services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. NeoGenomics delivered year-on-year revenue growth of 11.1%, beating analysts’ expectations by 1.2%, and Quest reported revenues up 9.2%, topping estimates by 2.7%. NeoGenomics’s stock price was unchanged after the resultswhile Quest was up 3.9%.
Read our full analysis of NeoGenomics’s results here and Quest’s results here.
There has been positive sentiment among investors in the testing & diagnostics services segment, with share prices up 6.5% on average over the last month. Guardant Health’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $128.33 (compared to the current share price of $89.72).
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