Veracyte, Inc. (NASDAQ:VCYT): Performance Review And Growth Outlook – Marketing Sentinel
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Veracyte, Inc. (NASDAQ:VCYT): Performance Review And Growth Outlook

In the last trading session, 1,357,947 Veracyte, Inc. (NASDAQ:VCYT) shares changed hands as the company’s beta touched 0.74. With the company’s per share price at $37.47 changed hands at -$0.72 or -0.02% during last session, the market valuation stood at $2.52 Billion. VCYT’s last price was a discount, traded about -129.6% off its 52-week high of $86.03. The share price had its 52-week low at $22.87, which suggests the last value was 38.96% up since then. When we look at Veracyte, Inc.’s average trading volume, we note the 10-day average is 729.9 Million shares, with the 3-month average coming to 807.55 Million.

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Analysts gave the Veracyte, Inc. (VCYT) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that 1 out of 9 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 1 recommended VCYT as a Hold, 6 felt it is a Buy and none rated the stock as Underweight. Veracyte, Inc.’s EPS for the current quarter is expected to be -$0.25.


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Veracyte, Inc. (NASDAQ:VCYT) trade information

Although VCYT has turned red as seen at the end of in last trading. With action -1.89%, the performance over the past five days has been green. The jump to weekly highs of $38.86 on Thursday, Jun 17 added 3.58% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.23%, with the 5-day performance at 0.04% in the green. However, in the 30-day time frame, Veracyte, Inc. (NASDAQ:VCYT) is 0.03% up. Looking at the short shares, we see there were 4.06 Million shares sold at short interest cover period of 0.01 days.

The consensus price target for the stock as assigned by Wall Street analysts is $64.43, meaning bulls need an upside of 71.95% from its current market value. According to analyst projections, VCYT’s forecast low is $45 with $95 as the target high. To hit the forecast high, the stock’s price needs a +153.54% upsurge from its current level, while the stock would need to tank 20.1% for it to hit the projected low.

Veracyte, Inc. (VCYT) estimates and forecasts

Data shows that the Veracyte, Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value dive -21.76% over the past 6 months, a -95.45% in annual growth rate that is considerably lower than the industry average of 19.2%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Veracyte, Inc. will drop -13.6%, while the growth in revenue is estimated to hit -187.5% for the next quarter. Year-over-year growth is forecast to reach 68.4% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $48.06 Million. 9 analysts are of the opinion that Veracyte, Inc.’s revenue for the quarter ending September 01, 2021 will be $52.04 Million. The company’s revenue for the corresponding quarter a year ago was $20.7 Million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 132.1%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 12.7%. The 2021 estimates are for Veracyte, Inc. earnings to decrease by -140.1%, but the outlook for the next 5-year period is at 0% per year.

Veracyte, Inc. (NASDAQ:VCYT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.88% of Veracyte, Inc. shares while 105.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 106.56%. There are 339 institutions holding the Veracyte, Inc. stock share, with ARK Investment Management, LLC the top institutional holder. As of Mar 30, 2021, the company held 11.33% of the shares, roughly 7.62 Million VCYT shares worth $409.43 Million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 9.58% or 6.44 Million shares worth $346.35 Million as of Mar 30, 2021.

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Among Mutual Funds, the top two as of May 30, 2021 were ARK ETF Tr-ARK Innovation ETF and Artisan Small Cap Fund. With 3602929 shares estimated at $140.69 Million under it, the former controlled 5.36% of total outstanding shares. On the other hand, Artisan Small Cap Fund held about 4.19% of the shares, roughly 2.82 Million shares worth around $151.35 Million.

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