Carlsmed (NASDAQ:CARL) Stock Price Target Raised at Truist Financial

Key Points

• Truist raised its Carlsmed price target from $20 to $23 and maintained a Buy rating, implying 56.36% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: BTIG lifted its target to $26 and Needham to $22, while MarketBeat reports a consensus rating of Moderate Buy and an average target of $22.
• Carlsmed reported third-quarter revenue of $21.55 million and a loss of $0.34 per share, beating the loss estimate; revenue grew 65% year over year and the company raised its 2026 revenue guidance to $78–$80 million. It remains loss-making, leaving profitability a key risk.

Carlsmed (NASDAQ:CARL - Get Free Report) had its price target boosted by stock analysts at Truist Financial from $20.00 to $23.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 56.36% from the company's current price.

A number of other research firms have also recently weighed in on CARL. Needham & Company LLC increased their price objective on Carlsmed from $17.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday. BTIG Research boosted their target price on Carlsmed from $24.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Carlsmed in a research note on Wednesday, November 4th. Finally, Wall Street Zen raised Carlsmed from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carlsmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Carlsmed Price Performance

Shares of CARL opened at $14.71 on Wednesday. Carlsmed has a fifty-two week low of $8.50 and a fifty-two week high of $17.23. The company has a market capitalization of $401.58 million, a price-to-earnings ratio of -10.29 and a beta of 1.97. The firm has a 50-day simple moving average of $14.87 and a 200-day simple moving average of $12.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84.

Carlsmed (NASDAQ:CARL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.08. The firm had revenue of $21.55 million for the quarter. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. On average, equities research analysts anticipate that Carlsmed will post -1.50 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CARL. Deutsche Bank AG acquired a new stake in Carlsmed in the second quarter valued at about $106,000. Bank of America Corp DE purchased a new stake in Carlsmed in the 2nd quarter valued at approximately $108,000. Alpine Woods Capital Investors LLC acquired a new position in Carlsmed during the 2nd quarter worth approximately $161,000. Bank of New York Mellon Corp acquired a new position in Carlsmed during the 2nd quarter worth approximately $181,000. Finally, Zevenbergen Capital Investments LLC increased its position in Carlsmed by 50.4% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 17,900 shares of the company's stock worth $252,000 after purchasing an additional 6,000 shares during the period.

Key Stories Impacting Carlsmed

Here are the key news stories impacting Carlsmed this week:

• Positive Sentiment: Third-quarter revenue rose 65% year over year to $21.6 million, and Carlsmed raised its 2026 revenue guidance to $78 million–$80 million. Its loss of $0.34 per share was narrower than the $0.42 consensus estimate. Carlsmed third-quarter results and guidance
• Positive Sentiment: BTIG Research raised its price target from $24 to $26 and maintained a Buy rating; Needham & Company raised its target from $17 to $22 and also gave the stock a Buy rating. BTIG Research recommendations Needham recommendations
• Positive Sentiment: Management cited new DRG-related tailwinds and fourth-quarter product launches as factors supporting its revenue outlook. Carlsmed outlook and product launches
• Negative Sentiment: Despite the earnings beat, Carlsmed continues to report quarterly losses and negative net margins, so continued growth and progress toward profitability remain important risks for investors. Carlsmed third-quarter results

About Carlsmed

Carlsmed, Inc. is a medical technology company focused on personalized solutions for spine surgery. The company combines patient-specific planning, advanced imaging, software and additive manufacturing to develop implants designed to address the anatomical needs of individual patients. Its products include the aprevo® patient-specific interbody implant system, which is designed for use in spinal fusion procedures. Carlsmed's technology is intended to support surgeons in planning procedures and selecting or creating implants that may help restore spinal alignment and improve surgical precision.

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