Bank of America just raised its EUR/USD forecast
Tuesday, Cantor Fitzgerald reaffirmed its Overweight rating on SI-BONE Inc. (NASDAQ: SIBN) with a steady price target of $25.00. This endorsement came after SI-BONE reported its fourth-quarter results for 2024 and provided financial guidance for the year 2025. SI-BONE’s revenue for the fourth quarter of 2024 was $49.0 million, surpassing both Cantor Fitzgerald’s projection of $46.8 million and the FactSet consensus of $46.9 million. This figure represents a year-over-year increase of 26%, primarily fueled by the U.S. market, where revenue climbed approximately 27% year-over-year to $46.9 million. The company maintains a strong financial position with a GREAT overall health score according to InvestingPro analysis, supported by an impressive gross profit margin of 77.7% and a healthy current ratio of 8.25.
The company’s growth has been attributed to the productivity of its sales force and an expanding base of active surgeons using its products. Approximately 1,400 U.S. surgeons were actively engaged with SI-BONE’s offerings in the last quarter, marking a significant increase of around 23% from the previous year. Sales representatives were notably efficient, generating approximately $1.8 million each during the quarter, which is an increase of about 13% year-over-year. This operational efficiency has contributed to the company’s strong year-to-date stock performance, with a 24.61% return according to InvestingPro data.
Looking ahead, SI-BONE has set its 2025 revenue guidance to range between $193.5 million and $195.5 million, indicating an expected year-over-year growth of about 16% to 17%. Cantor Fitzgerald’s analysis suggests that SI-BONE is well-positioned to exceed expectations in the coming year. The optimism is based on the company’s broadening product portfolio and its initial success in promoting adoption within the interventional community.
The firm also highlighted the attractive valuation of SI-BONE’s shares, which are currently trading at 3.2 times the CY25E enterprise value/revenue. This is notably lower than the 4.6 times average for the company’s high-growth MedTech peers. Cantor Fitzgerald’s reiterated Overweight rating reflects confidence in SI-BONE’s market position and potential for continued growth.
In other recent news, SI-BONE Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -0.11, compared to the forecast of -0.15. The company also exceeded revenue predictions, achieving $49 million against the anticipated $46.86 million, marking a 26% year-over-year increase. Needham has raised its price target for SI-BONE to $24 from $20, maintaining a Buy rating, following the company’s positive revenue outlook for 2025. SI-BONE’s management projects worldwide revenue between $193.5 million and $195.5 million for 2025, reflecting a growth rate of 16-17%. The company reported a positive adjusted EBITDA of $1.9 million for the fourth quarter, and its active surgeon base reached a new high, indicating strong market engagement. Additionally, SI-BONE launched three key products in 2024, contributing to its robust growth. The company’s management has expressed confidence in achieving adjusted EBITDA profitability for the full year 2025. These developments come amid SI-BONE’s ongoing focus on innovation and growth within its surgical solutions.
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