Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - BTIG upgraded Tactile Systems Technology (NASDAQ:TCMD) from Neutral to Buy on Tuesday, establishing a $28.00 price target based on 1.5x NTM EV/Sales, which represents a discount to peers but exceeds TCMD’s current valuation.
The medical device company reported third-quarter revenue of approximately $85.8 million, representing 17.3% year-over-year growth and exceeding consensus estimates of $79.3 million by 8.1%. Airway Clearance products showed particularly strong performance with 71.2% year-over-year growth, while Lymphedema sales increased 10.9%.
This marks the second consecutive quarter that Tactile Systems has outperformed expectations, prompting BTIG to reassess its outlook on the stock. The firm cited multiple growth drivers including productivity enhancements, sales force expansion, new products, and improved regulatory and reimbursement dynamics.
BTIG projects Tactile Systems to grow at approximately 10% CAGR, in line with its peer set which trades at multiples 2-3 times higher. Current Street estimates for FY26 growth range between 8% and 9%, which BTIG views as appropriate given market growth rates.
The research firm characterized Tactile Systems as "in the midst of a turnaround" and concluded it was appropriate to "come off the sidelines" with the upgraded rating.
In other recent news, Tactile Systems Technology Inc reported its financial results for the third quarter of 2025, surpassing market expectations. The company achieved an earnings per share (EPS) of $0.36, significantly exceeding the projected $0.17, resulting in an EPS surprise of 111.76%. Additionally, Tactile Systems reported revenue of $85.8 million, which was higher than the anticipated $79.31 million, marking an 8.18% revenue surprise. These results reflect a strong performance for the company in the quarter.
The announcement of these results was followed by a notable increase in the company’s stock during regular and aftermarket trading, highlighting investor confidence. The earnings and revenue figures are crucial indicators for investors and demonstrate the company’s ability to outperform expectations. Such financial performance often attracts attention from analysts and investors alike, as it reflects the company’s current operational strength. These recent developments are important for stakeholders monitoring the company’s financial health and future prospects.
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