Is me stock a good buy?
The consensus among 2 Wall Street analysts covering (NASDAQ: ME) stock is to Buy ME stock. Out of 2 analysts, 0 (0%) are recommending ME as a Strong Buy, 1 (50%) are recommending ME as a Buy, 1 (50%) are recommending ME as a Hold, 0 (0%) are recommending ME as a Sell, and 0 (0%) are recommending ME as a Strong Sell.
Why is 23andMe stock dropping?
23andMe's stock has tumbled as a result of its weak revenue growth. New income from drug development collaborations could increase over time. It's difficult to value an enterprise that's in the midst of a pivot.
Does 23andMe stock pay dividends?
23andMe does not currently pay dividends.
Is 23andMe profitable?
In 2021, management predicts a total of around $247 million in revenue compared to 2020's sum of $305 million. And even in 2019's bumper crop year of sales, it wasn't anywhere near being profitable. Then there's 23andMe's drug-development pipeline.
Is 23andMe better than ancestry?
Health Screening. AncestryDNA and 23andMe are both excellent DNA testing services, but they have different focuses. The former is a good choice if you're building a family tree, but the latter has robust health-testing capabilities, and rich reports on maternal/paternal lines and Neanderthal ancestry.
What is dividend in business?
Definition: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company's dividend is decided by its board of directors and it requires the shareholders' approval.
Should I buy or sell 23andMe stock right now?
2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for 23andMe in the last twelve months. There are currently 1 hold rat...
What is 23andMe's stock price forecast for 2022?
2 Wall Street analysts have issued 12-month target prices for 23andMe's stock. Their forecasts range from 3.00 to 7.00. On average, they predict 23...
How has 23andMe's stock performed in 2022?
23andMe's stock was trading at 6.66 at the beginning of the year. Since then, ME shares have decreased by 66.8% and is now trading at 2.21. View t...
When is 23andMe's next earnings date?
23andMe is scheduled to release its next quarterly earnings announcement on Friday, August 12th 2022. View our earnings forecast for 23andMe .
How were 23andMe's earnings last quarter?
23andMe Holding Co. (NASDAQ:ME) announced its earnings results on Thursday, May, 26th. The company reported ($0.16) earnings per share (EPS) for th...
What guidance has 23andMe issued on next quarter's earnings?
23andMe updated its FY 2023 earnings guidance on Thursday, June, 9th. The company provided EPS guidance of for the period. The company issued reven...
Who are 23andMe's key executives?
23andMe's management team includes the following people: Ms. Anne Wojcicki , Co-Founder, CEO, Pres & Director Mr. Steven J. Schoch , Chief Finan...
Who are some of 23andMe's key competitors?
Some companies that are related to 23andMe include Cerevel Therapeutics (CERE) , Turning Point Therapeutics (TPTX) , Galapagos (GLPG) , Ultrage...
What is 23andMe's stock symbol?
23andMe trades on the NASDAQ under the ticker symbol "ME."
How much is 23andme worth?
23andMe has an enterprise value of around $4.7 billion. The company expects to report revenue of $247 million in 2021 and $400 million in 2024, which means 2021 and 2024 EV-to-sales multiples of 19x and 11.8x, respectively.
How much is the genetic testing market?
The global genetic testing market size is expected to reach $23 billion by 2027 compared to $11 billion in 2020. Increased health and wellness awareness is expected to drive up the demand for 23andMe's products.
Is 23andme a biotech?
Grosslight said that 23andMe is a biotech that has the potential to become a major drug developer. This is mainly because the company has collected a large amount of patient data through direct-to-consumer genetic testing. Article continues below advertisement. Source: 23andMe.
Is ME stock a good long-term investment?
23andMe raised about $592 million in gross cash proceeds in the merger deal. The funds will be used to fuel growth and expansion of the company’s consumer health and therapeutics businesses. Its gene-sequencing kits have been used by more than 11.3 million people, of which 8.9 million have agreed to use their data for the company's research purposes. The biotech company aims to have 16.4 million cumulative genotyped customers by 2024.
What happened
Shares of 23andMe Holding ( ME -2.38% ) stock slipped in Friday morning trading after the genetic data miner announced that it will spend $400 million to acquire on-demand online medical care and pharmacy services platform Lemonaid Health (not to be confused with Lemonade ( LMND -3.70% ), the insurance provider).
So what
23andMe noted that bringing Lemonaid Health's "innovative telemedicine and prescription drug delivery services" onboard could be "an important step in transforming the traditional primary care experience and making personalized healthcare a reality." Using its own treasure trove of genetic data, the company says it will be able to "give patients and healthcare providers better information about health risks and treatments, opening up the door to prevent as well as better manage disease.".
NASDAQ: ME
For its new prize 23andMe will pay 25% in cash and 75% in shares of 23andMe stock. It expects to close the acquisition before the end of this year.
Now what
Now, the synergies in this merger may not be immediately obvious. Still, if you think out a few years, the acquisition does kind of make sense.
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What happened
Shares of 23andMe ( NASDAQ:ME) dropped 29.1% in November, according to data from S&P Global Market Intelligence. The DNA testing and therapeutics company reported a disappointing quarterly report and likely fell victim to the sell-off in high-growth names last month.
So what
On Nov. 10, 23andMe reported its earnings for the second quarter, which ended in September. Revenue only grew 7% year over year in the period, a big slowdown from the 23% growth it reported a quarter prior.
Now what
Over the last six months, 23andMe has burned just over $100 million in operating cash flow, most of which is going to its drug/therapeutics business. With $700 million in cash on its balance sheet, the company has a lot of room to burn more money as it tries to bring drugs to market.
What Is a Meme Stock?
A meme stock refers to the shares of a company that have gained a cult-like following online and through social media platforms. These online communities can go on to build hype around a stock through narratives and conversations elaborated in discussion threads on websites like Reddit and posts to followers on platforms like Twitter and Facebook.
How does meme stock affect the price of a stock?
Meme stock communities can thus greatly influence the prices of those shares through coordinated efforts to, for example, initiate short squeezes in heavily shorted names. As a result, meme stocks can become apparently overvalued relative to their fundamentals yet remain elevated for prolonged periods of time as members of the meme stock community keep their prices propped up.
What is a stonk?
Stonks: An ironic misspelling of the word "stocks." This meme predates wallstreetbets and often depicts a crudely designed bald man in a suit staring blankly at an arrow pointing upwards in price.
What is memes in social media?
A meme is an idea or some element of popular culture that spreads and multiplies across the minds of human beings. Memes gained increasing prevalence and relevance as the internet and social media grew, allowing people to rapidly spread humorous, interesting, or sarcastic videos, images or posts to others around the world. The rapid and multiplicative effect of sharing such posts could make them go " viral ."
When did meme stocks come out?
Meme stocks, however, didn't truly emerge until the year 2020 via the Reddit forum r/wallstreetbets. Unlike its predecessors and other investing message boards, WallStreetBets became known for its unconventional and often irreverent tone. In this and other forums that have popped up since, users work together to identify target stocks and then promote them, while also putting their own money to work. Unlike online pump-and-dump schemes aimed at defrauding unwitting investors, the stock promotion of meme stocks largely involves buying and holding with "strong hands" even after the prices of such a stock spikes.
Does Investopedia include all offers?
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Is meme stock a boon?
While meme stocks have been a boon to individual investors , day traders, and brokerage platforms, companies too have capitalized (quite literally) on the meme stock phenomenon. As a result of sky-high prices and persistent demand for shares among individual investors, AMC Theaters CEO Adam Aron took advantage of the elevated valuation and engaged in a series of secondary (follow-on) offerings in 2021, raising more than $1.5 billion in Q1 of that year from voracious meme stock buyers. 4
