CapsoVision (NASDAQ:CV) Announces Quarterly Earnings Results

Key Points

• CapsoVision reported a quarterly loss of ($2.02) earnings per share (EPS), significantly missing analysts' expectations of ($0.11).
• The company generated $3.32 million in revenue for the quarter, exceeding the expected $3.20 million.
• Following the earnings report, CapsoVision's stock decreased by 4.2% and traded at $3.85 on Friday.

CapsoVision (NASDAQ:CV - Get Free Report) posted its earnings results on Thursday, August 14th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.91), Zacks reports. The business had revenue of $3.32 million for the quarter, compared to analysts' expectations of $3.20 million.

CapsoVision Stock Up 1.0%

CV stock traded up $0.04 on Thursday, reaching $3.98. 11,216 shares of the company were exchanged, compared to its average volume of 277,919. CapsoVision has a 12 month low of $3.49 and a 12 month high of $5.72.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CV. Wall Street Zen upgraded shares of CapsoVision to a "hold" rating in a research note on Sunday, July 13th. Benchmark began coverage on shares of CapsoVision in a research note on Monday, July 28th. They issued a "speculative buy" rating and a $5.00 price objective for the company. Finally, Roth Capital set a $6.00 price objective on shares of CapsoVision and gave the stock a "buy" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, CapsoVision presently has a consensus rating of "Strong Buy" and a consensus price target of $5.50.

About CapsoVision

We are a commercial-stage medical technology company that develops advanced imaging and artificial intelligence (“AI”) technologies that are deployed in our capsule endoscopy solutions to identify abnormalities of the gastrointestinal (“GI”) tract for diagnostic and screening purposes. We developed our first capsule endoscope system, currently comprising the CapsoCam Plus single-usecapsule and the CapsoCloud and CapsoView software, to panoramically visualize the small-bowel mucosa to investigate abnormalities such as obscure GI bleeding and Crohn's disease.