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CareDx (CDNA) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

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The upcoming report from CareDx (CDNA - Free Report) is expected to reveal quarterly loss of $0.19 per share, indicating a decline of 72.7% compared to the year-ago period. Analysts forecast revenues of $63.63 million, representing a decrease of 17.7% year over year.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain CareDx metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts forecast 'Revenue- Patient and digital solutions' to reach $9.64 million. The estimate indicates a year-over-year change of +11.9%.

It is projected by analysts that the 'Revenue- Testing services' will reach $46.42 million. The estimate indicates a year-over-year change of -24.9%.

Analysts expect 'Revenue- Product' to come in at $7.39 million. The estimate points to a change of +7.6% from the year-ago quarter.

View all Key Company Metrics for CareDx here>>>

CareDx shares have witnessed a change of +6.8% in the past month, in contrast to the Zacks S&P 500 composite's -0.4% move. With a Zacks Rank #3 (Hold), CDNA is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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