Industry Analysts Just Upgraded Their Hydreight Technologies Inc. (CVE:NURS) Revenue Forecasts By 42%

Hydreight Technologies Inc. (CVE:NURS) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year’s forecasts. The revenue forecast for next year has experienced a facelift, with analysts now much more optimistic on its sales pipeline. The market seems to be pricing in some improvement in the business too, with the stock up 5.4% over the past week, closing at CA$3.87. Could this big upgrade push the stock even higher?

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After this upgrade, Hydreight Technologies’ dual analysts are now forecasting revenues of CA$150m in 2026. This would be a sizeable improvement in sales compared to the last 12 months. Per-share earnings are expected to surge 3,315% to CA$0.29. Before this latest update, the analysts had been forecasting revenues of CA$105m and earnings per share (EPS) of CA$0.28 in 2026. The forecasts seem more optimistic now, with a sizeable gain to revenue and a small lift in earnings per share estimates.

See our latest analysis for Hydreight Technologies

With these upgrades, we’re not surprised to see that the analysts have lifted their price target 15% to CA$9.75 per share.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analysts are definitely expecting Hydreight Technologies’ growth to accelerate, with the forecast 3x annualised growth to the end of 2026 ranking favourably alongside historical growth of 53% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 30% per year. Factoring in the forecast acceleration in revenue, it’s pretty clear that Hydreight Technologies is expected to grow much faster than its industry.

The Bottom Line

The biggest takeaway for us from these new estimates is that analysts upgraded their earnings per share estimates, with improved earnings power expected for next year. They also upgraded their revenue estimates for next year, and sales are expected to grow faster than the wider market. There was also an increase in the price target, suggesting that there is more optimism baked into the forecasts than there was previously. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Hydreight Technologies.

Analysts are clearly in love with Hydreight Technologies at the moment, but before diving in – you should be aware that we’ve identified some warning flags with the business, such as major dilution from new stock issuance in the past year. You can learn more, and discover the 1 other warning sign we’ve identified, for free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks with high insider ownership.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.