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Thursday, October 1, 2020

Is Now the Time to Invest in InMode Ltd. (NASDAQ:INMD)?

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The InMode Ltd. (INMD) shares are trading at higher $28.55 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $39.00.

To add more color to this target, the company’s high over the last year is $58.76 and the low is $13.06. Over the last 52 weeks, INMD is down -51.41% while the S&P 500 is down -0.87%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, INMD reported a profit of $34.26 million. InMode Ltd. also saw revenues increase to $40.44 million. In addition, INMD has free cash flow of $6.02 million as of 03-2020. The company’s EBITDA came in at $6.1 million which compares well with its peers.

INMD booked profit margins of 34.60%, its Return on Equity (ROE) is 38.10%, and its Return on Assets is 31.00%. All told, it is clear that, INMD needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. INMD has a short ratio of 2.19 and outstanding shares of 33.96M.

Company Outlook

INMD has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.7 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.51. InMode Ltd. INMD also noted assets of $229.7 million at the end of the last quarter. Investors should also keep an eye on sector updates as INMD has historically followed its peers on positive news.

All told, InMode Ltd. INMD has strung together solid data and demonstrated underlying fundamentals. At its current valuation, INMD represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

InMode Ltd. INMD is now commanding a market cap of 1.05B and a float of 21.09M. INMD is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of INMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in INMD, either long or short, and we have not been compensated for this article.

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