From Barchart: 2025-02-27 07:00:02

Piper Sandler upgrades Cytek Biosciences to “Buy” with a $12 price target, showing confidence in the company. Cytek reports a 7% revenue increase in Q3 2024 driven by international demand. Earnings of $0.01 per share in Q3 2024 surpass Zacks Consensus Estimate, highlighting improving financial health. Analyst upgrade based on strong financials and product demand.

Cytek Biosciences focuses on advanced cell analysis solutions with products like Aurora and Northern Lights systems. Consensus price target declined over the past year but Piper Sandler’s upgrade to “Buy” with $12 target reflects confidence in future performance. Revenue up 7% in Q3 2024, driven by international demand and 25% service revenue surge.

Cytek’s Q3 2024 earnings of $0.01 per share beat Zacks Consensus Estimate of a $0.02 loss per share. Positive financial trends include revenue growth and strong service revenue. Buyback plan announcement may impact stock price target adjustments. Share price up by 5.1% in last trading session with above-average volume.

Despite earnings estimate revisions not indicating sustained strength, Cytek is seen as a standout opportunity in lab instrument and services sector. Analyst David Westenberg highlights the company’s robust growth and manageable losses. Positive financial performance includes revenue growth, earnings beat, and strong service revenue surge in Q3 2024.



Read more at Barchart:: Cytek Biosciences, Inc. (NASDAQ:CTKB) Sees Analyst…