InMode Ltd. (INMD) PT Raised to $80 at Canaccord Genuity

Canaccord Genuity analyst Kyle Rose raised the price target on InMode Ltd. (NASDAQ: INMD) to $80.00 (from $60.00) while maintaining a Buy rating.

The analyst commented, "... InMode reported preliminary Q3 record revenue in the range of $93.5-$94.0M, representing ~56-57% growth Y/Y, significantly above CG estimate of $75.7M and consensus of $74.9M. Record non-GAAP EPS was guided to a range of $0.53-$0.54 – above CG/consensus estimates (those estimates, pre-split, were $0.76/$0.78, or roughly $0.38/$0.39 post-split). The company also guided for non-GAAP GMs in the range of 84-86% for the FY21. Lastly, INMD raised 2021 full-year revenue guidance to $343-$347M, up from the previous $305-315M estimate. More details will be provided on the Q3 conference call on October 26."

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