Stifel maintains HeartFlow at Buy, raises price target to $70 from $45

HeartFlow reported revenue growth outpacing expenses, narrowing operating losses. The company has $253M in cash and expects to achieve positive cash flow by mid-2028. It aims for an 85% non-GAAP gross margin and is expanding its platform with new products like PCI Navigator. Management highlights structural advantages and growing clinical evidence.

Canaccord Genuity raised its price target for HeartFlow to $69 from $56, maintaining a Buy rating. The new target suggests a 15.2% upside from the Nov 12 close of $59.92. Recent analyst price targets for HeartFlow range from $64 to $70.

Stifel raised its price target on HeartFlow (NASDAQ:HTFL) to $70 from $45, citing strong Q3 2026 results. Revenue was $72.9M, beating estimates and showing 57% YoY growth. The company raised its full-year revenue guidance to $262M-$264M. Shares are near a 52-week high, up 106% YTD, but some analysts consider the stock overvalued.

HeartFlow (HTFL) reported Q3 2026 revenue of $72.9M, up 57% YoY, driven by Plaque adoption and FFRCT utilization. They raised full-year revenue guidance to $262M-$264M, up 49%-50% YoY. Non-GAAP gross margin guidance was increased to 82.5%, with midterm profitability goals reaffirmed. Commercial adoption and clinical evidence support growth.

Heartflow (HTFL) expects to reach cash flow profitability by mid-2028, with declining operating expenses and narrowing losses. The company anticipates 1,300 Plaque Analysis-activated accounts by year-end and 37% year-over-year FFRct volume growth in Q4. Plaque Analysis pricing is expected to be flat sequentially, with a 10% increase in Q1 2027. Clinical data shows Plaque Analysis reduces major cardiovascular events and heart attack rates.

Heartflow (HTFL) reported Q3 revenue of $72.9M, up 57% YoY, and adjusted loss per share of -$0.03, beating estimates. The company raised 2026 revenue guidance to $262M-$264M. Shares fell 5% post-earnings.