
PRE Stock Forecast & Price Target
PRE Analyst Ratings
Bulls say
Prenetics Global Ltd has demonstrated a remarkable year-over-year revenue increase of 59% in its 3Q24 results, reaching $7.8 million, primarily driven by strong performance from its ACT Genomics and CircleDNA divisions. The company achieved significant operational improvements, with gross margins rising to 51.8%, up from 33.9% the previous year, attributed to enhanced pricing strategies and cost optimization efforts. Additionally, Prenetics anticipates that its CircleDNA and ACT Genomics units will reach business-unit break-even by the second half of 2024, ahead of prior expectations, which further underscores the potential for future profitability and growth.
Bears say
The financial outlook for Prenetics Global Ltd has been negatively impacted by a reduction in revenue estimates for CY24 and CY25, with projections decreasing to $32.5 million and $75.4 million, respectively, due to a disappointing performance in 3Q24 and a strategic shift towards the IM8 initiative. Additionally, the company reported an operating loss of approximately $11.8 million in 3Q24, which, while slightly improved from the prior year's loss of $13.0 million, still highlights underlying financial challenges. Overall, these factors contribute to a cautious view regarding Prenetics' future profitability and revenue growth potential.
This aggregate rating is based on analysts' research of Prenetics Global Ltd and is not a guaranteed prediction by Public.com or investment advice.
PRE Analyst Forecast & Price Prediction
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