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On Tuesday, Needham maintained a Buy rating on Alphatec Holdings (NASDAQ:), a medical technology company, and increased the shares price target to $22.00 from the previous $19.00. This adjustment followed an Investor Day event hosted by Alphatec in New York, where the company’s management presented long-range plan (LRP) targets for the year 2027, which exceeded the consensus expectations.
During the event that occurred on Monday, Alphatec’s management outlined a revenue goal of $1 billion by 2027, a figure that aligns with the upper end of forecasts and suggests potential for further growth. The company also reaffirmed its commitment to achieving an adjusted EBITDA margin by applying 10% of any revenue upside.
The optimistic outlook on Alphatec’s financial targets is based on the company’s clear strategy to surpass its stated goals over the next several years. Needham’s stance reflects confidence in Alphatec’s ability to outperform on both revenue and adjusted EBITDA through the 2027 LRP period.
The raised price target to $22 is a result of the positive insights gained from the recent Investor Day. Needham’s outlook for Alphatec implies that the company is well-positioned to continue its growth trajectory, potentially leading to outperformance in both top-line revenue and bottom-line earnings before interest, taxes, depreciation, and amortization.
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