SOPHiA GENETICS (NASDAQ:SOPH) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

SOPHiA GENETICS (NASDAQ:SOPH) issued its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04), Zacks reports. SOPHiA GENETICS had a negative net margin of 102.84% and a negative return on equity of 47.40%. The firm had revenue of $15.85 million during the quarter, compared to analyst estimates of $15.90 million. During the same quarter last year, the business posted ($0.21) earnings per share. SOPHiA GENETICS updated its FY 2024 guidance to EPS.

SOPHiA GENETICS Stock Performance

SOPH stock remained flat at $3.40 during mid-day trading on Thursday. 26,325 shares of the company’s stock traded hands, compared to its average volume of 67,867. The business has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $4.23. The company has a quick ratio of 4.17, a current ratio of 4.40 and a debt-to-equity ratio of 0.11. The firm has a market cap of $222.28 million, a PE ratio of -3.12 and a beta of 1.03. SOPHiA GENETICS has a 1 year low of $2.70 and a 1 year high of $7.37.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SOPH. Morgan Stanley downgraded shares of SOPHiA GENETICS from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $10.00 to $5.00 in a research note on Wednesday, August 7th. Royal Bank of Canada cut their price objective on shares of SOPHiA GENETICS from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA operates as a cloud-native software technology company in the healthcare space. The company offers SOPHiA DDM platform, a cloud-native software platform for analyzing data and generating insights from multimodal data sets and diagnostic modalities. Its SOPHiA DDM platform and related solutions, applications, products, and services are used by hospitals, laboratories, and biopharmaceutical companies through its own sales force as well as distributors and industry collaborators in Switzerland, France, Italy, rest of Europe, North America, the United States, Latin America, and the Asia-pacific.