InMode $INMD Stock Triangle Breakout Test On Sales Forecast Above Estimates

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InMode $INMD stock closed down -4.6% on October 14, 2022, after the company raised its sales forecasts above consensus estimates.

InMode Expects Record Third Quarter 2022 Revenue of $120.5M-$120.9M, Raising Full-Year 2022 Revenue Guidance to $445M-450M

On October 13, 2022, InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announced that it expects to release its financial results for the third quarter of 2022 before the Nasdaq market opens on Thursday, October 27, 2022.

InMode sees Q3 non-GAAP EPS of 64c-65c versus the consensus estimate of 53c. The company sees Q3 revenue of $120.5M-$120.9M versus the consensus estimate of $105.94M.

Dark Pool Trade In InMode $INMD Stock

A dark pool trade occurred in InMode $INMD stock on October 6, 2022. The dark pool trading data shows a $4.3 million block order. We think that this was a buy order ahead of the company, raising revenue guidance.

InMode stock chart on October 16, 2022, with dark pool trade from October 6, 2022, shown with orange bar.

Make sure to review this lesson on dark pool trading so that you understand the chart above.

InMode started with a Buy at Jefferies

On October 12, 2022, Jefferies analyst Matthew Taylor started coverage of InMode with a Buy rating and $40 price target. He said that InMode is a leader in the aesthetics market with well protected, best-in-class technologies in minimal and non-invasive body shaping, fat reduction, and skin tightening. Taylor expects continued market growth, share gains, and pipeline contributions to drive upside to consensus estimates.

InMode Corporate Overview

InMode Corporate Overview

InMode $INMD Stock Technical Analysis

InMode $INMD stock is in a technical weak uptrend. The stock is testing a triangle breakout. The MACD is positive and so too is the money flow. InMode stock has excellent relative strength in this overall down trending market.

InMode stock chart testing a triangle breakout with positive MACD and positive money flow.
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