Stifel Reiterates Hold Rating on Inogen (INGN) Following Earnings, Company is On Good Trajectory, but Questions About Sustainability of Growth and Profitability Remain

Stifel analyst Matthew Blackman reiterated a Hold rating and $40.00 price target on Inogen, Inc (NASDAQ: INGN), following the company's most recent quarterly report.

The analyst quotes: "INGN 4Q results were as previewed in January, highlighted by positive updates on demand, supply chain, and the directional 2022 (and beyond) growth and profitability trajectory. Most important: (1) Supply chain: there are still challenges, uncertainty, and elevated component procurement costs, but with US manufacturing back on-line (slightly earlier than expected in February) supply issues should wane throughout the year; (2) Europe: regulatory submissions are underway and could be approved by 3Q, averting any dislocation, though some review timeline risk does remain; and (3) Outlook: for the first-time since the pandemic, INGN provided a numerical framework (though not explicit guidance) for mid-SD 2022 revenue growth and the potential to return to DD growth beyond 2022. There are still questions about sustainable growth/profitability levels, but there is reason to be hopeful for more-consistent near-term growth and, following anticipated increased spend in 2022, potential profitable growth thereafter. Hold rating; TP under review."

For an analyst ratings summary and ratings history on Inogen, Inc click here. For more ratings news on Inogen, Inc click here.

Shares of Inogen, Inc closed at $29.94 yesterday.

By Vlad Schepkov | [email protected]

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald