Barclays analyst Luke Sergott maintains $10x Genomics (TXG.US)$ with a buy rating, and adjusts the target price from $21 to $19.
According to TipRanks data, the analyst has a success rate of 39.8% and a total average return of -4.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $10x Genomics (TXG.US)$'s main analysts recently are as follows:
10x Genomics endured a challenging quarter influenced by a commercial reorganization and a subdued genomics capital expenditure environment. It is anticipated that this period represents the low point of the demand environment, and the restructuring is expected to begin yielding modest improvements as genomics capital expenditure demand starts to recover.
Following the Q3 report, 10x Genomics has seen an adjustment in the fiscal 2024 guidance, reduced by $50M at the midpoint, indicating a forecast for flat sequential revenue in Q4, which falls short of the general consensus. The recent weakness is primarily ascribed to disruptions caused by commercial and organizational transitions, compounded by tough macroeconomic conditions.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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