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Hold Rating on Qiagen Amidst Strong Performance and Market Uncertainties

Hold Rating on Qiagen Amidst Strong Performance and Market Uncertainties

William Blair analyst Andrew Brackmann has maintained their neutral stance on QGEN stock, giving a Hold rating yesterday.

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Andrew Brackmann has given his Hold rating due to a combination of factors including Qiagen’s recent performance and market conditions. The company’s second-quarter results met expectations, with revenue and earnings slightly surpassing guidance, and full-year revenue projections were marginally increased. Despite these positive indicators, the stock’s significant rise of 26% since March, compared to a 7% increase in the Russell 2000, suggests that investors were hoping for even more substantial gains, which led to a 5% drop in share price.
Brackmann acknowledges that Qiagen’s management is effectively executing its 2025 objectives and performing well amidst macroeconomic uncertainties. However, he expresses a need for more clarity on the company’s intermediate-term outlook and the timeline for achieving its long-term revenue growth target of 7% CER. The stock’s current trading at 19 times next twelve months earnings, below its 10-year historical average of 22 times, also influences the Hold rating, as it reflects a cautious stance given the external challenges beyond management’s control.

In another report released yesterday, TD Cowen also maintained a Hold rating on the stock with a $52.00 price target.

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