The outlook and analysis of Veracyte Inc (VCYT)’s stock

Veracyte Inc [VCYT] stock prices are up 2.72% to $44.12 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The VCYT shares have gain 11.44% over the last week, with a monthly amount glided 30.76%, and seem to be holding up well over a long-time horizon.

From an analyst’s perspective:

Veracyte Inc [NASDAQ: VCYT] stock has seen the most recent analyst activity on November 15, 2024, when Wolfe Research initiated its Outperform rating and assigned the stock a price target of $50. Previously, UBS started tracking the stock with Buy rating on October 16, 2024, and set its price target to $43. On October 10, 2024, Guggenheim initiated with a Buy rating and assigned a price target of $40 on the stock. Needham reiterated its Buy rating and increased its price target to $33 on February 23, 2024. Raymond James downgraded its rating to a Mkt Perform. Scotiabank started tracking with a Sector Outperform rating for this stock on January 05, 2023, and assigned it a price target of $33. In a note dated January 07, 2022, Stephens initiated an Overweight rating and provided a target price of $52 on this stock.

The stock price of Veracyte Inc [VCYT] has been fluctuating between $18.61 and $44.16 over the past year. Currently, Wall Street analysts expect the stock to reach $35 within the next 12 months. Veracyte Inc [NASDAQ: VCYT] shares were valued at $44.12 at the most recent close of the market. An investor can expect a potential drop of -20.67% based on the average VCYT price forecast.

Analyzing the VCYT fundamentals

The Veracyte Inc [NASDAQ:VCYT] reported sales of 425.33M for trailing twelve months, representing a surge of 28.58%. Gross Profit Margin for this corporation currently stands at 0.65% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at -0.02%, and Net Profit Margin reading is -0.02%. To continue investigating profitability, this company’s Return on Assets is posted at -0.01, Equity is -0.01 and Total Capital is 0.01.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 43.08 points at the first support level, and at 42.03 for the second support level. However, for the 1st resistance point, the stock is sitting at 44.81, and for the 2nd resistance point, it is at 45.49.

Ratios To Look Out For

It’s worth pointing out that Veracyte Inc [NASDAQ:VCYT]’s Current Ratio is 5.08. On the other hand, the Quick Ratio is 4.79, and the Cash Ratio is 3.9. Considering the valuation of this stock, the price to sales ratio is 8.05, the price to book ratio is 2.91.

Transactions by insiders

Recent insider trading involved Wygant Jonathan, VP, Chief Accounting Officer, that happened on Nov 27 ’24 when 5032.0 shares were sold. Director, EASTHAM KARIN completed a deal on Nov 19 ’24 to sell 14731.0 shares. Meanwhile, Director KARIN EASTHAM bought 14731.0 shares on Nov 19 ’24.

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