Analyst Michael Matson of Needham maintained a Buy rating on Penumbra, boosting the price target to $388.00.
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Michael Matson has given his Buy rating due to a combination of factors driving Penumbra’s optimistic growth potential. He anticipates that multiple upcoming events, such as the launches of the Thunderbolt and Ruby XL products, along with the STORM-PE trial outcomes, will act as catalysts to accelerate the company’s revenue growth in 2026. Furthermore, the easing challenges in the Chinese market and the expansion of Penumbra’s vascular sales team are also expected to positively impact performance.
Additionally, Matson projects significant operating margin improvements for Penumbra in 2026, contributing to rapid EPS growth that surpasses its revenue growth trajectory. Based on these factors, and coupled with the company’s solid outlook for both top-line revenue and bottom-line earnings, Matson raised Penumbra’s price target to $388 and selected it as the firm’s top pick for 2026 within the Needham Conviction List, demonstrating his strong confidence in its sustained performance potential.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $345.00 price target.