Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing GH more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
Guardant Health, Inc. (GH) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
30
analysts
28 bullish · 1 bearish · 30 covering GH
Strong Buy
0
Buy
28
Hold
1
Sell
1
Strong Sell
0
Consensus Target
$133
+44.3% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
30
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $11.5B
GH price targets
Three scenarios for where GH stock could go
Current
~$92
Confidence
53 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Guardant Health, Inc.
GH · NASDAQHealthcareMedical - Diagnostics & ResearchDecember year-end
Guardant Health is a precision oncology company that develops and commercializes liquid biopsy blood tests for cancer detection and monitoring. It generates revenue primarily from its Guardant360 test for advanced cancer patients (~70% of revenue) and its LUNAR test for early cancer detection, with additional income from biopharmaceutical partnerships and clinical trial services. The company's key advantage is its proprietary liquid biopsy technology platform—which detects cancer signals from blood samples—and its extensive clinical-genomic database that improves test accuracy and supports drug development.
Market Cap
$11.5B
Revenue TTM
$903M
Net Income TTM
-$399M
Net Margin
-44.2%
GH Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
+9.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$-0.49/$-0.61
Revenue
$203M/$211M
Q3 2025
EPS
$-0.44/$-0.52
Revenue
$232M/$236M
Q4 2025
EPS
$-0.39/$-0.48
Revenue
$265M/$268M
Q1 2026
EPS
$-0.90/$-0.77
Revenue
$281M/$272M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $-0.49/$-0.61 | +19.7% | $203M/$211M | -3.8% |
| Q3 2025 | $-0.44/$-0.52 | +15.4% | $232M/$236M | -1.5% |
| Q4 2025 | $-0.39/$-0.48 | +18.8% | $265M/$268M | -0.9% |
| Q1 2026 | $-0.90/$-0.77 | -17.4% | $281M/$272M | +3.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$1.2B
+34.6% YoY
FY2
$1.6B
+29.4% YoY
EPS Outlook
FY1
$-3.45
-8.5% YoY
FY2
$-3.67
-6.3% YoY
Trailing FCF (TTM)-$262M
FCF Margin: -29.1%
Next Earnings
May 7, 2026
Expected EPS
$-0.47
Expected Revenue
$279M
GH beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
GH Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $982M
Product Mix
Latest annual revenue by segment or product family
Oncology
69.6%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
94.0%
+32.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Oncology is the largest disclosed segment at 69.6% of FY 2025 revenue, with no year-over-year comparison yet.
UNITED STATES is the largest reported region at 94.0%, up 32.4% YoY.
GH Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Overvalued
Fair value est. $66 — implies -25.2% from today's price.
Premium to Fair Value
25.2%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
GH
-27.8x
vs
S&P 500
25.2x
210% discount
vs Healthcare Trailing P/E
GH
-27.8x
vs
Healthcare
22.1x
225% discount
vs GH 5Y Avg P/E
Today
-27.8x
vs
5Y Average
—
Benchmark unavailable
Forward PE
—
S&P 500
19.1x
—
Healthcare
19.0x
—
5Y Avg
—
—
Trailing PE
-27.8x
S&P 500
25.2x
-210%
Healthcare
22.1x
-225%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Healthcare
1.52x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.3x
—
Healthcare
14.1x
—
5Y Avg
—
—
Price/FCF
—
S&P 500
21.3x
—
Healthcare
18.7x
—
5Y Avg
—
—
Price/Sales
11.7x
S&P 500
3.1x
+275%
Healthcare
2.8x
+312%
5Y Avg
11.4x
+3%
Dividend Yield
—
S&P 500
1.88%
—
Healthcare
1.40%
—
5Y Avg
—
—
| Metric | GH | S&P 500 | Healthcare | 5Y Avg GH |
|---|---|---|---|---|
| Forward PE | — | 19.1x | 19.0x | — |
| Trailing PE | -27.8x | 25.2x-210% | 22.1x-225% | — |
| PEG Ratio | — | 1.75x | 1.52x | — |
| EV/EBITDA | — | 15.3x | 14.1x | — |
| Price/FCF | — | 21.3x | 18.7x | — |
| Price/Sales | 11.7x | 3.1x+275% | 2.8x+312% | 11.4x |
| Dividend Yield | — | 1.88% | 1.40% | — |
GH trades above S&P 500 benchmarks on 1 of 2 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolGH Financial Health
Verdict
Stressed
Key financial metrics for GH are shown below.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$903M
Revenue Growth
TTM vs prior year
+30.4%
Gross Margin
Gross profit as a share of revenue
63.8%
Operating Margin
Operating income divided by revenue
-49.0%
Net Margin
Net income divided by revenue
-44.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-3.18
Free Cash Flow (TTM)
Cash generation after capex
-$262M
FCF Margin
FCF as share of revenue — the primary cash quality signal
-29.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-35.0%
ROA
Return on assets, trailing twelve months
-31.2%
Cash & Equivalents
Liquid assets on the balance sheet
$378M
Net Debt
Total debt minus cash
$1.3B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
ROE
Return on equity, trailing twelve months
—
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.1%
Dividend
—
Buyback
0.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$14M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
125M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageGH Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Regulatory Uncertainty
Guardant Health has faced significant regulatory scrutiny, particularly regarding trial designs. Recent FDA briefing documents raised concerns about the trial design of AstraZeneca's SERENA-6 Phase 3 trial, which utilizes Guardant's G360 test, potentially impacting the adoption and perceived value of their diagnostic tests.
High Risk
Financial Performance
The company has sustained operating losses and is currently unprofitable, with negative equity and significant cash burn. Despite revenue growth, increasing operating expenses may necessitate additional financing in the future, raising concerns about financial stability.
Medium
Competitive Landscape
Guardant Health operates in an increasingly competitive market, with new entrants potentially limiting its ability to command premium pricing for its products. This competitive pressure could adversely affect market share and revenue growth.
Medium
Product and Trial Design Risks
Concerns have been raised about the interpretation of results from trials using Guardant's tests, particularly with the SERENA-6 trial. The FDA's skepticism regarding the trial's ability to demonstrate clinical significance due to its design and immature survival data directly impacts the perceived utility of Guardant's diagnostic tools.
Medium
Valuation Concerns
Guardant Health's Price-to-Sales (P/S) ratio is considered high compared to industry averages, suggesting that investors are paying a premium for sales. This raises questions about the sustainability of high market expectations for future growth.
Lower
Technical and Momentum Indicators
While some technical indicators suggest positive sentiment, others indicate negative momentum, such as the MACD. The stock's price trading below its 50-day moving average may concern short-term technical traders.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why GH Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Revenue Growth and Market Share Expansion
Guardant Health is expected to achieve significant growth in revenues and market share through collaborations, acquisitions, and market expansion. Analysts anticipate strong demand for blood-based cancer diagnostics, with tests like Shield, Guardant360, and Reveal driving high revenue growth and expanding the addressable market.
Product Innovation and Market Leadership
The company is a leader in liquid biopsy testing, offering a diverse portfolio of products such as Guardant360 CDx, Guardant360 Liquid, Guardant Reveal, and Guardant360 Tissue tests. The Shield test, in particular, is highlighted as the first FDA-approved blood test for primary colorectal cancer (CRC) screening, giving it a significant first-mover advantage and pricing power.
Clinical Validation and Reimbursement
The narrative for GH is supported by growing clinical validation of its tests and improving reimbursement prospects, which are seen as crucial for its path toward profitability.
Expanding Addressable Market
With the Shield test's potential in CRC screening, Guardant Health is tapping into a large eligible population, with projections suggesting substantial annual peak sales if a significant market share is captured.
Financial Performance
In 2025, Guardant Health's revenue increased by 32.88% to $982.02 million. For FY2026, revenue is projected to grow by 27%-30%, with an estimated $1.27 billion.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
GH Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$92.25
52W Range Position
66%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$36.36
+153.7% from the low
52-Week High
$120.74
-23.6% from the high
1 Month
+2.89%
3 Month
-9.43%
YTD
-9.3%
1 Year
+120.0%
3Y CAGR
+57.7%
5Y CAGR
-7.3%
10Y CAGR
+11.1%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
GH vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 305.2x median
Peer median unavailable
Revenue Growth
+34.6%
vs +17.4% median
+99% above peer median
Net Margin
-44.2%
vs -14.6% median
-202% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
GH GH Guardant Health, Inc. | $11.5B | — | +34.6% | -44.2% | Buy | +44.3% |
EXA EXAS Exact Sciences Corporation | $20.0B | 582.8x | +16.5% | -6.4% | Buy | -1.6% |
ILM ILMN Illumina, Inc. | $21.7B | 27.5x | +1.4% | 19.4% | Buy | +3.4% |
NTR NTRA Natera, Inc. | $29.6B | — | +31.7% | -14.6% | Buy | +22.0% |
FDM FDMT 4D Molecular Therapeutics, Inc. | $600M | — | +17.4% | -164.4% | Buy | +216.7% |
CGE CGEN Compugen Ltd. | $247M | — | +38.2% | -577.2% | Buy | +44.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
GH Dividend and Capital Return
GH returns 0.1% annually — null% through dividends and 0.1% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.1%
Dividend + buyback return per year
Buyback Yield
0.1%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$14M
Estimated Shares Retired
147.3K
Approx. Share Reduction
0.1%
Shares Outstanding
Current diluted share count from the screening snapshot
125M
FAQ
7 questionsGH Investor Questions
Common questions answered from live analyst data and company financials.
01Is Guardant Health, Inc. (GH) stock a buy or sell in 2026?
Guardant Health, Inc. (GH) is rated Buy by Wall Street analysts as of 2026. Of 30 analysts covering the stock, 28 rate it Buy or Strong Buy, 1 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $133, implying +44.3% from the current price of $92.
02What is the GH stock price target for 2026?
The Wall Street consensus price target for GH is $133 based on 30 analyst estimates. The high-end target is $175 (+89.7% from today), and the low-end target is $110 (+19.2%).
03Is Guardant Health, Inc. (GH) stock overvalued in 2026?
Forward earnings data for GH is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
04What are the main risks for Guardant Health, Inc. (GH) stock in 2026?
The primary risks for GH in 2026 are: (1) Regulatory Uncertainty — Guardant Health has faced significant regulatory scrutiny, particularly regarding trial designs. (2) Financial Performance — The company has sustained operating losses and is currently unprofitable, with negative equity and significant cash burn. (3) Competitive Landscape — Guardant Health operates in an increasingly competitive market, with new entrants potentially limiting its ability to command premium pricing for its products. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Guardant Health, Inc.'s revenue and earnings forecast?
Analyst consensus estimates GH will report consensus revenue of $1.2B (+34.6% year-over-year) and EPS of $-3.45 (-8.5% year-over-year) for the upcoming fiscal year. The following year, analysts project $1.6B in revenue.
06When does Guardant Health, Inc. (GH) report its next earnings?
Guardant Health, Inc. is expected to report its next earnings on approximately 2026-05-07. Consensus expects EPS of $-0.47 and revenue of $279M. Over recent quarters, GH has beaten EPS estimates 75% of the time.
07How much free cash flow does Guardant Health, Inc. generate?
Guardant Health, Inc. (GH) had a free cash outflow of $262M in free cash flow over the trailing twelve months — a free cash flow margin of 29.1%. GH returns capital to shareholders through and share repurchases ($14M TTM).