Analysts Set Guardant Health, Inc. (NASDAQ:GH) Target Price at $40.60

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $40.60.

Several brokerages have recently commented on GH. Piper Sandler boosted their price objective on Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. BTIG Research raised their price objective on shares of Guardant Health from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Craig Hallum upped their target price on shares of Guardant Health from $28.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Citigroup lifted their price target on Guardant Health from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein cut their price objective on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th.

Guardant Health Stock Performance

Shares of GH stock opened at $30.90 on Thursday. The firm's 50-day simple moving average is $24.00 and its two-hundred day simple moving average is $26.71. Guardant Health has a 52 week low of $15.81 and a 52 week high of $37.04. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analysts' expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The firm's quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. On average, equities research analysts forecast that Guardant Health will post -3.38 earnings per share for the current year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company's stock, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GH. JNBA Financial Advisors bought a new position in Guardant Health in the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Guardant Health during the third quarter valued at approximately $34,000. Quarry LP bought a new position in Guardant Health during the second quarter valued at approximately $44,000. Canton Hathaway LLC purchased a new stake in Guardant Health in the second quarter worth approximately $59,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health during the 2nd quarter valued at $71,000. Institutional investors own 92.60% of the company's stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.