Rainbows and Unicorns: Mawson Infrastructure Group, Inc. (NASDAQ:MIGI) Analysts Just Became A Lot More Optimistic

Celebrations may be in order for Mawson Infrastructure Group, Inc. (NASDAQ:MIGI) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects.

Following the upgrade, the current consensus from Mawson Infrastructure Group's twin analysts is for revenues of US$59m in 2024 which - if met - would reflect a sizeable 27% increase on its sales over the past 12 months. The loss per share is anticipated to greatly reduce in the near future, narrowing 60% to US$1.57. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$49m and losses of US$2.08 per share in 2024. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to next year's revenue estimates, while at the same time reducing their loss estimates.

See our latest analysis for Mawson Infrastructure Group

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Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that Mawson Infrastructure Group's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 21% growth on an annualised basis. This is compared to a historical growth rate of 51% over the past three years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 12% annually. So it's pretty clear that, while Mawson Infrastructure Group's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most important thing here is that analysts reduced their loss per share estimates for next year, reflecting increased optimism around Mawson Infrastructure Group's prospects. They also upgraded their revenue estimates for next year, and sales are expected to grow faster than the wider market. More bullish expectations could be a signal for investors to take a closer look at Mawson Infrastructure Group.

Analysts are definitely bullish on Mawson Infrastructure Group, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including a short cash runway. For more information, you can click through to our platform to learn more about this and the 2 other concerns we've identified .

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.