Sight Sciences, Inc. to Post Q1 2023 Earnings of ($0.40) Per Share, William Blair Forecasts (NASDAQ:SGHT)

Sight Sciences, Inc. (NASDAQ:SGHT – Get Rating) – William Blair reduced their Q1 2023 earnings per share (EPS) estimates for Sight Sciences in a report released on Tuesday, March 14th. William Blair analyst M. Kaczor now anticipates that the company will post earnings of ($0.40) per share for the quarter, down from their previous forecast of ($0.39). The consensus estimate for Sight Sciences’ current full-year earnings is ($1.36) per share. William Blair also issued estimates for Sight Sciences’ Q3 2023 earnings at ($0.32) EPS, Q4 2023 earnings at ($0.28) EPS, FY2023 earnings at ($1.34) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.22) EPS and FY2024 earnings at ($1.09) EPS.

Sight Sciences (NASDAQ:SGHT – Get Rating) last posted its quarterly earnings results on Monday, March 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.07. Sight Sciences had a negative net margin of 120.91% and a negative return on equity of 44.87%. The business had revenue of $20.54 million during the quarter, compared to analyst estimates of $20.38 million. During the same quarter in the previous year, the business posted ($0.34) EPS.

Several other research firms have also commented on SGHT. Morgan Stanley increased their price target on shares of Sight Sciences from $11.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Citigroup boosted their price target on Sight Sciences from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Finally, Stifel Nicolaus raised shares of Sight Sciences from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $15.00 in a research report on Friday, January 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Sight Sciences Stock Down 0.7 %

Shares of NASDAQ SGHT opened at $9.78 on Thursday. The stock has a market capitalization of $470.91 million, a PE ratio of -5.43 and a beta of 1.31. The company has a current ratio of 12.79, a quick ratio of 12.47 and a debt-to-equity ratio of 0.19. Sight Sciences has a 12-month low of $5.35 and a 12-month high of $15.94. The stock’s fifty day simple moving average is $11.56 and its two-hundred day simple moving average is $9.85.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in Sight Sciences by 14.0% in the third quarter. BlackRock Inc. now owns 1,491,439 shares of the company’s stock valued at $9,470,000 after buying an additional 183,016 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sight Sciences by 20.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,210 shares of the company’s stock valued at $8,669,000 after acquiring an additional 234,716 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Sight Sciences by 1.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,257,634 shares of the company’s stock valued at $15,356,000 after acquiring an additional 17,983 shares during the last quarter. Jackson Square Partners LLC increased its stake in shares of Sight Sciences by 43.4% in the fourth quarter. Jackson Square Partners LLC now owns 1,209,704 shares of the company’s stock worth $14,770,000 after acquiring an additional 366,093 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Sight Sciences by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 1,173,279 shares of the company’s stock worth $10,547,000 after purchasing an additional 31,636 shares during the last quarter. 50.21% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

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Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.