Shark Bites: InMode Gets Back to Rally Mode
Shark Bites: InMode Gets Back to Rally Mode
James DePorre, a Real Money contributor, author and CEO of Shark Investing, writes that InMode (NASDAQ: INMD) is growing rapidly and had strong quarter-over-quarter growth with steady improvement in the stock. InMode announced that it anticipates record revenues in the third quarter of 2020 of $59.2M to $59.5M, versus analyst expectations of just $38.2M. Earnings are expected to be in the range of $0.60 to $0.62 per share versus analyst expectations of $0.46. The company’s 2020 revenue estimate jumps to around $192M from estimates of $160M and should produce a substantial jump in EPS. These numbers substantially surpass market estimates. With numbers this strong, I anticipate that INMD to be the success that I believed it would be back in January.
