William Plovanic, an analyst from Canaccord Genuity, maintained the Buy rating on HeartFlow, Inc.. The associated price target was raised to $40.00.
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William Plovanic has given his Buy rating due to a combination of factors that highlight HeartFlow, Inc.’s strong market performance and potential for growth. The company delivered impressive results in its first public quarter, surpassing revenue expectations with $46.3 million, which was significantly higher than both Canaccord Genuity’s estimate and the consensus. HeartFlow’s management has issued a conservative revenue guidance for FY25, projecting $173 million to $173.5 million, which is above the pre-print consensus, indicating confidence in their growth trajectory.
HeartFlow’s strategic focus on increasing commercial adoption, advancing its innovative pipeline, and expanding clinical leadership further supports the Buy rating. The company’s suite of AI-driven software products positions it well to capture a significant portion of the $5 billion U.S. total addressable market. Additionally, the anticipated full market release of their Plaque Analysis product in 2026, coupled with improved reimbursement and favorable guidelines, is expected to drive further growth. These factors, along with the company’s ability to achieve high gross margins, underpin Plovanic’s positive outlook and the increased price target of $40.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $38.00 price target.