Inmode Ltd [INMD] stock Downgrade by UBS analyst, price target now $24

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Inmode Ltd [NASDAQ: INMD] closed the trading session at $20.97. The company report on February 13, 2024 at 7:00 AM that InMode Reports Fourth Quarter and Full Year 2023 Financial Results; Quarterly Revenue of $126.8M and Record Full Year Revenue of $492M.

InMode Ltd. (Nasdaq: INMD) (“InMode”), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the fourth quarter and full year ended December 31, 2023.

The stocks have a year to date performance of -5.71 percent and weekly performance of -20.84 percent. The stock has been moved at -44.02 percent over the last six months. The stock has performed -7.17 percent around the most recent 30 days and changed -3.41 percent over the most recent 3-months.

If compared to the average trading volume of 1.67M shares, INMD reached to a volume of 6941840 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Inmode Ltd [INMD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INMD shares is $28.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INMD stock is a recommendation set at 2.33. 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.

UBS have made an estimate for Inmode Ltd shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 03, 2023. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $55 to $22. The new note on the price target was released on October 13, 2023, representing the official price target for Inmode Ltd stock. Previously, the target price had yet another raise to $40, while UBS analysts kept a Buy rating on INMD stock.

The Average True Range (ATR) for Inmode Ltd is set at 1.23, with the Price to Sales ratio for INMD stock in the period of the last 12 months amounting to 3.59. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 8.80. Price to Free Cash Flow for INMD in the course of the last twelve months was 10.40 with Quick ratio for the last quarter at 12.29.

INMD stock trade performance evaluation

Inmode Ltd [INMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.84. With this latest performance, INMD shares dropped by -7.17% in over the last four-week period, additionally sinking by -44.02% over the last 6 months – not to mention a drop of -47.17% 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 INMD stock in for the last two-week period is set at 37.76, with the RSI for the last a single of trading hit 31.90, and the three-weeks RSI is set at 41.27 for Inmode Ltd [INMD]. The present Moving Average for the last 50 days of trading for this stock 22.76, while it was recorded at 22.82 for the last single week of trading, and 30.25 for the last 200 days.

Inmode Ltd [INMD]: An insightful look at the core fundamentals

Inmode Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.29 and a Current Ratio set at 13.18.

Earnings per share (EPS) analysis for Inmode Ltd [INMD] stock

With the latest financial reports released by the company, Inmode Ltd posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.60%. 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 INMD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Inmode Ltd go to 3.10%.

Inmode Ltd [INMD]: Institutional Ownership

The top three institutional holders of INMD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in INMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in INMD stock with ownership which is approximately 5.8325%.

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