William Blair sees ‘exceptional entry point’ for Inogen shares

Shares of Inogen are down 55% from the summer highs despite the company beating the Street in Q3, providing new details on its soon-to-be-launched pipeline investments, and initiating 2019 guidance above consensus, William Blair analyst Margaret Kaczor tells investors in a research note. She believes investors have concerns around the company’s increase in sales and marketing investments and long-term market potential. The analyzed Inogen’s recent investments and came away believing that management’s 2019 guidance is likely conservative and that the market is large enough for Inogen to continue to grow at a “healthy” 20%-plus pace over the next several years. At 4.8 times her 2020 revenue target of $523.7M, Kaczor believes Inogen shares offer an “exceptional entry point despite the difficult market backdrop.” She keeps an Outperform rating on the name.
https://thefly.com/landingPageNews.php?id=2843869