Neuronetics momentum likely to prove durable, says Piper Sandler

Piper Sandler analyst Adam Maeder reiterates an Overweight rating with an $8 price target on Neuronetics saying the company reported a "nice Q4 beat across-the-board." The company saw "strong sequential uptick" in both Neurostar system sales and session revenue throughout the quarter, and this momentum is likely to prove durable in the coming years, Maeder tells investors in a research note. The analyst continues to view Neuronetics as a mid-teens sales grower looking out into 2023 and beyond. He says Neuronetics is an "attractive small-cap medtech story."