JP Morgan lifts Invitae Corp [NVTA] price estimate. Who else is bullish?

Invitae Corp [NYSE: NVTA] loss -1.18% on the last trading session, reaching $0.53 price per share at the time. The company report on November 8, 2023 at 4:01 PM that Invitae Reports Third Quarter 2023 Financial Results.

Reported revenue of $121.2 million, a year-over-year decrease of 9%; on a pro forma basis, taking into account exited businesses and geographies, revenue increased approximately 4%.

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Gross margin of 32.2% and non-GAAP gross margin of 52.4%; continued improvement in non-GAAP gross margin for nine consecutive quarters.

Invitae Corp represents 286.49 million in outstanding shares, while the company has a total market value of $152.96 million with the latest information. NVTA stock price has been found in the range of $0.525 to $0.5565.

If compared to the average trading volume of 11.25M shares, NVTA reached a trading volume of 4791046 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Invitae Corp [NVTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVTA shares is $1.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVTA stock is a recommendation set at 3.89. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Invitae Corp shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 05, 2023.

The Average True Range (ATR) for Invitae Corp is set at 0.06, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 0.32.

Trading performance analysis for NVTA stock

Invitae Corp [NVTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.76. With this latest performance, NVTA shares dropped by -5.69% in over the last four-week period, additionally sinking by -49.63% over the last 6 months – not to mention a drop of -81.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVTA stock in for the last two-week period is set at 44.88, with the RSI for the last a single of trading hit 45.06, and the three-weeks RSI is set at 44.12 for Invitae Corp [NVTA]. The present Moving Average for the last 50 days of trading for this stock 0.6102, while it was recorded at 0.5406 for the last single week of trading, and 1.1263 for the last 200 days.

Invitae Corp [NVTA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Invitae Corp [NVTA] shares currently have an operating margin of -136.48 and a Gross Margin at +19.23. Invitae Corp’s Net Margin is presently recorded at -601.64.

Return on Total Capital for NVTA is now -21.50, given the latest momentum, and Return on Invested Capital for the company is -95.30. Return on Equity for this stock declined to -201.69, with Return on Assets sitting at -90.38. When it comes to the capital structure of this company, Invitae Corp [NVTA] has a Total Debt to Total Equity ratio set at 1,719.43. Additionally, NVTA Total Debt to Total Capital is recorded at 94.50, with Total Debt to Total Assets ending up at 89.61. Long-Term Debt to Equity for the company is recorded at 1,700.07, with the Long-Term Debt to Total Capital now at 93.44.

Reflecting on the efficiency of the workforce at the company, Invitae Corp [NVTA] managed to generate an average of -$1,827,231 per employee. Receivables Turnover for the company is 6.31 with a Total Asset Turnover recorded at a value of 0.15.Invitae Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.25 and a Current Ratio set at 2.39.

Invitae Corp [NVTA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Invitae Corp go to 8.00%.

An analysis of Institutional ownership at Invitae Corp [NVTA]

The top three institutional holders of NVTA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in NVTA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in NVTA stock with ownership which is approximately 5.7994%.