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FARO Technologies Inc. shares have surged to a 52-week high, with the stock price peaking at $32.93. According to InvestingPro data, analysts see further upside potential with price targets ranging from $37 to $40. This milestone reflects a significant uptrend for the company, which specializes in 3D measurement and imaging technology for various industries. Over the past year, FARO’s stock has witnessed an impressive rally, boasting a 47.9% increase in value, with an exceptional 82.95% surge in the past six months alone. This robust performance underscores investor confidence and the company’s potential for growth amidst a competitive tech landscape. The 52-week high serves as a testament to FARO’s strategic initiatives and its ability to adapt to the evolving market demands. For deeper insights into FARO’s valuation and growth prospects, InvestingPro subscribers can access 12 additional exclusive ProTips and a comprehensive Pro Research Report, part of the platform’s coverage of 1,400+ US stocks.
In other recent news, Faro Technologies (NASDAQ:FARO) reported fourth-quarter earnings that exceeded analyst expectations, posting adjusted earnings per share of $0.50, surpassing the anticipated $0.31. The company’s revenue for the quarter was $93.54 million, which was higher than the consensus estimate of $91.55 million, although it marked a 5% year-over-year decline. Faro Technologies also noted an improvement in its non-GAAP gross margin to 57.4% from 51.3% in the previous year. The firm achieved a decade-high adjusted EBITDA margin of 18% and reported its fifth consecutive quarter of positive operating cash flow. Looking ahead, Faro expects first-quarter 2025 revenue between $77 million and $85 million, with non-GAAP EPS projected between $0.10 and $0.30, both above analyst expectations. Craig-Hallum analyst Greg Palm increased Faro’s price target from $33.00 to $40.00, maintaining a Buy rating on the stock. The analyst expressed confidence in Faro’s ability to outgrow markets through better execution and strategic efforts. These developments highlight Faro Technologies’ continued focus on operational excellence and strategic growth.
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