Accuray (NASDAQ:ARAY) Releases Earnings Results, Misses Expectations By $0.05 EPS

Accuray (NASDAQ:ARAY) announced its earnings results on Wednesday. The medical equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate 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

NASDAQ ARAY 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. The company has a market capitalization of $160.66 million, a P/E ratio of -7.36 and a beta of 1.48. The firm has a 50-day moving average price of $2.41 and a two-hundred day moving average price of $2.61. Accuray has a 12-month low of $1.51 and a 12-month high of $4.30.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARAY shares. TheStreet cut shares of Accuray from a “c-” rating to a “d+” rating in a report on Wednesday, February 14th. Roth Capital reiterated a “buy” rating on shares of Accuray in a research note on Tuesday, February 13th. Finally, Roth Mkm initiated coverage on Accuray in a report on Tuesday, February 13th. They set a “buy” rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Accuray currently has a consensus rating of “Moderate Buy” and a consensus price target 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.