Does Earnings Surprise History Hold Any Clue for Invitae (NYSE:NVTA)

Earnings results for Invitae (NYSE:NVTA)

Invitae Corporation is expected* to report earnings on 11/05/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.6. The reported EPS for the same quarter last year was $-0.69.

Invitae last issued its quarterly earnings results on August 4th, 2020. The medical research company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by $0.15. The business earned $46.20 million during the quarter, compared to analyst estimates of $39.63 million. Its quarterly revenue was down 14.4% compared to the same quarter last year. Invitae has generated ($2.28) earnings per share over the last year. Invitae has confirmed that its next quarterly earnings report will be published on Thursday, November 5th, 2020.

Analyst Opinion on Invitae (NYSE:NVTA)

7 Wall Street analysts have issued ratings and price targets for Invitae in the last 12 months. Their average twelve-month price target is $38.18, predicting that the stock has a possible downside of 11.64%. The high price target for NVTA is $48.00 and the low price target for NVTA is $20.00. There are currently 3 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Invitae has received a consensus rating of Buy. The company’s average rating score is 2.57, and is based on 4 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $38.18, Invitae has a forecasted downside of 11.6% from its current price of $43.21. Invitae has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: Invitae (NYSE:NVTA)

Invitae does not currently pay a dividend. Invitae does not have a long track record of dividend growth.

Insiders buying/selling: Invitae (NYSE:NVTA)

In the past three months, Invitae insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,214,961.00 in company stock. Only 2.90% of the stock of Invitae is held by insiders. 98.58% of the stock of Invitae is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Invitae (NYSE:NVTA

Earnings for Invitae are expected to grow in the coming year, from ($2.55) to ($1.50) per share. The P/E ratio of Invitae is -10.99, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Invitae is -10.99, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Invitae has a P/B Ratio of 10.99. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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