Movement Alert｜10x Genomics, Inc. Pre-Market Decline 4.11%, analyst target cuts continue to weigh despite raised full-year revenue outlook

Market Focus11-12 21:47

On November 12, 10x Genomics, Inc. fell 4.11% in Pre-Market Trading, trading at $59.0 per share, with turnover of $350.1 thousand.

The move came as the market continued to digest stronger-than-expected third-quarter results and a higher full-year revenue outlook, while post-earnings target price cuts and cautious ratings from several firms kept valuation pressure in focus.

In its latest quarterly report, 10x Genomics, Inc. posted a loss of $0.15 per share, better than expectations for a loss of about $0.25 to $0.27, and revenue of $150.667 million, above consensus near $148 million. The company raised full-year revenue guidance to $625 million-$635 million from $610 million-$630 million, above the roughly $620.8 million market expectation. Even so, Stephens maintained a Hold rating with a $65 target, while UBS cut its target to $61 from $90, Barclays to $70 from $110, and BofA to $65 from $80, underscoring continuing two-way debate after the earnings release.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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