Assessment of Berkeley Lights stock's growth potential
Berkeley Lights, Inc. (NASDAQ:BLI) is a digital cell biology company focused on the rapid development and commercialization of biotherapeutics and other cell-based products for customers. The company’s platform captures deep phenotypic, functional, and genotypic information for thousands of single cells. As of now, Berkeley Lights stock has a market cap value of just over $3 billion.
Berkeley Lights stock recently went public back in July 2020. BLI has decreased 48% year-to-date and has fallen about 60% from its record high of $113.53. Additionally, shares of Berkeley Lights stock are up just over 8% from their record low of $42.03.
On top of that, Berkeley Lights announced that it will be releasing first-quarter earnings before the open on Tuesday, May 11. Last year Berkeley Lights stock outperformed earnings expectations on two of its three earnings reports.
For the second quarter of 2020, Berkeley Lights missed analysts’ estimates by a margin of $4.06 and reported an earnings per share (EPS) of -$4.25. For the third quarter of 2020, BLI posted an increased EPS up to -$0.16 and beat expectations by a margin of $0.04. In the most recent quarterly report for the fourth quarter of 2020, Berkeley Lights reported an EPS of -$0.19 and beat expectations by a margin of $0.01. Analysts project that the company will report an EPS of -$0.24 for the first quarter of 2021.
Overall, we should note that investors should be paying the most attention to the Berkeley Lights' revenue growth that will be reported tomorrow as part of the quarterly report.