It's been a pretty great week for Shockwave Medical, Inc. (NASDAQ:SWAV) shareholders, with its shares surging 12% to US$263 in the week since its latest annual results. Shockwave Medical reported US$730m in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$3.85 beat expectations, being 7.1% higher than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

View our latest analysis for Shockwave Medical

Taking into account the latest results, the current consensus from Shockwave Medical's eleven analysts is for revenues of US$920.7m in 2024. This would reflect a huge 26% increase on its revenue over the past 12 months. Per-share earnings are expected to surge 21% to US$4.82. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$918.9m and earnings per share (EPS) of US$4.30 in 2024. Although the revenue estimates have not really changed, we can see there's been a nice increase in earnings per share expectations, suggesting that the analysts have become more bullish after the latest result.

The analysts have been lifting their price targets on the back of the earnings upgrade, with the consensus price target rising 11% to US$258. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Shockwave Medical, with the most bullish analyst valuing it at US$290 and the most bearish at US$165 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Shockwave Medical's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 26% growth on an annualised basis. This is compared to a historical growth rate of 60% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 7.9% per year. So it's pretty clear that, while Shockwave Medical's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.