Broker Revenue Forecasts For BioLife Solutions, Inc. (NASDAQ:BLFS) Are Surging Higher

Simply Wall St · 05/13 10:11

BioLife Solutions, Inc. (NASDAQ:BLFS) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The analysts have sharply increased their revenue numbers, with a view that BioLife Solutions will make substantially more sales than they'd previously expected. Investor sentiment seems to be improving too, with the share price up 7.7% to US$19.54 over the past 7 days. It will be interesting to see if this latest upgrade is enough to kickstart further buying interest in the stock.

Following the upgrade, the consensus from six analysts covering BioLife Solutions is for revenues of US$120m in 2024, implying a not inconsiderable 13% decline in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$101m in 2024. The consensus has definitely become more optimistic, showing a solid increase in revenue forecasts.

View our latest analysis for BioLife Solutions

NasdaqCM:BLFS Earnings and Revenue Growth May 13th 2024

Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 16% by the end of 2024. This indicates a significant reduction from annual growth of 37% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 6.5% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - BioLife Solutions is expected to lag the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for BioLife Solutions this year. They also expect company revenue to perform worse than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at BioLife Solutions.

That's a pretty serious upgrade, but shareholders might be even more pleased to know that forecasts expect BioLife Solutions to be able to reach break-even within the next few years. For more information, you can click through to our free platform to learn more about these forecasts.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.