Accuray (NASDAQ:ARAY) Releases Earnings Results

Accuray (NASDAQ:ARAY) posted its earnings results on Wednesday. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. The company had revenue of $101.13 million for the quarter, compared to the consensus estimate of $114.60 million. Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. During the same period in the previous year, the firm posted $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Stock Performance

Shares of Accuray stock opened at $1.62 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.58 and a debt-to-equity ratio of 3.53. Accuray has a twelve month low of $1.51 and a twelve month high of $4.30. The stock has a market cap of $160.66 million, a price-to-earnings ratio of -7.36 and a beta of 1.48. The company’s fifty day moving average is $2.41 and its 200 day moving average is $2.61.

Analysts Set New Price Targets

A number of analysts have weighed in on ARAY shares. TheStreet cut shares of Accuray from a “c-” rating to a “d+” rating in a research note on Wednesday, February 14th. Roth Capital reissued a “buy” rating on shares of Accuray in a research note on Tuesday, February 13th. Finally, Roth Mkm began coverage on shares of Accuray in a research note on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.