In the latest update from Wall Street, Goldman Sachs analyst Matthew Sykes has maintained the 'Sell' rating on Cytek Biosciences (CTKB, Financial). This comes as significant news for investors focusing their attention on the biotechnology sector.
The decision to maintain the current rating was accompanied by a reduction in the price target for Cytek Biosciences (CTKB, Financial). The price target has been adjusted from $3.50 to $3.00, marking a 14.29% decrease. This adjustment reflects the firm's outlook on CTKB's market performance.
The updated price target is positioned in US dollars, underscoring the analyst's cautious stance on the company's near-term growth prospects. Despite the adjustments, the 'Sell' rating indicates Goldman Sachs' continued skepticism about the stock's potential performance in the market.
Investors should take note of these changes as Goldman Sachs' perspectives can influence market sentiment regarding Cytek Biosciences (CTKB, Financial). This report dated May 12, 2025, provides essential insights into the strategic evaluations conducted by one of the leading financial institutions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Cytek Biosciences Inc (CTKB, Financial) is $6.00 with a high estimate of $9.00 and a low estimate of $3.00. The average target implies an upside of 91.39% from the current price of $3.14. More detailed estimate data can be found on the Cytek Biosciences Inc (CTKB) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Cytek Biosciences Inc's (CTKB, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cytek Biosciences Inc (CTKB, Financial) in one year is $10.39, suggesting a upside of 231.42% from the current price of $3.135. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cytek Biosciences Inc (CTKB) Summary page.
