Analyst David Saxon from Needham maintained a Buy rating on RxSight and keeping the price target at $22.00.
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David Saxon has given his Buy rating due to a combination of factors that suggest potential for future growth despite recent setbacks. Although RxSight’s recent revenue figures and sales of Light Delivery Devices and Light Adjustable Lenses fell short of expectations, the company is taking proactive steps to address these challenges. Management is implementing a new commercial strategy aimed at increasing utilization rates by providing additional support in clinical, marketing, and training activities, which has already shown positive results in certain accounts.
Moreover, the company’s expansion into international markets such as the UK, EU, and South Korea presents new growth opportunities over the next 12 to 18 months. Despite the lowered revenue guidance, management has expressed confidence in their conservative estimates and has improved their gross margin outlook. The current trading price of RxSight shares, in relation to the 2026 EV/sales multiple, suggests a potentially undervalued position, supporting the Buy rating.