CARLHealthcare · Health Information ServicesThe 5 Wall Street analysts covering Carlsmed, Inc. hold a median 12-month price target of $18 — +11.9% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 30 of 100 as at 3 Nov 2026 — in the lower half. The Street sees upside; the factor read is a caution. That gap is the story on this page.
Consensus tells you what everyone already believes. The model scores Carlsmed, Inc. on its factor families — the same systematic rank behind the Ticker Nerd portfolio.
Percentile across ~4,600 US stocks on Ticker Nerd’s systematic factor model. Higher is better. How the model is built and tested
Revisions (78): Analysts have, on balance, been raising their forecasts.
Volatility (11): The share price moves around a lot.
Built and run by Aslam Ghouse, an ex-Goldman Sachs systematic trader with 15+ years in markets.
The bullish and bearish analyst opinions on CARL, reported as data — targets and ratings, the market's view beside the model's.
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
Data provided by Twelve Data
The green dot is the last close — the median target sits +11.9% from it.
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| 12 Oct 2026 | BTIG | Maintains | Buy | $23 → $24 |
| 28 Sept 2026 | BTIG | Reiterates | Buy | — |
| 28 Sept 2026 | BTIG | Reiterates | Buy | $23 |
| 6 Aug 2026 | Truist Securities | Maintains | Buy | $18 → $20 |
| 6 Aug 2026 | Truist Securities | Maintains | Buy | — |
| 1 July 2026 | Needham | Initiates | Buy | — |
| 1 July 2026 | Needham | Initiates | Buy | $17 |
| 6 May 2026 | BTIG | Reiterates | Buy | — |
| 15 Apr 2026 | Truist Securities | Maintains | Buy | — |
| 9 Apr 2026 | Goldman Sachs | Maintains | Buy | — |
| 15 Dec 2025 | BTIG | Reiterates | Buy | — |
| 7 Nov 2025 | BTIG | Maintains | Buy | — |
| 7 Nov 2025 | Truist Securities | Reiterates | Buy | — |
| 18 Aug 2025 | Goldman Sachs | Initiates | Buy | — |
| 18 Aug 2025 | Piper Sandler | Initiates | Overweight | — |
| 18 Aug 2025 | Truist Securities | Initiates | Buy | — |
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
CARL appears in the Radar on the weeks it earns a place.
AI cloud capacity
MSFTAMZNGOOGLORCL
AI chips
NVDAAVGOAMDMU
AI networking and serversIn full
ANETDELLLITECRDO
Data centre power
VRTCEGGEVVST
Both lines are total return — dividends reinvested — so the comparison is honest on both sides.
Over the twelve months to 4 Nov 2026, Carlsmed, Inc. returned +30.2% against +14.8% for the S&P 500, dividends included.
Download this chart as an image — free to reuse; link this page as the source.
Data provided by Twelve Data
Not the forecast itself — the direction analysts are revising it. Revision direction is one of the model's factor families.
A margin means little on its own. Each bar marks where the figure sits across the whole US universe we score.
Cheaper than 92% of US stocks
Cheaper than 19% of US stocks
Cheaper than 20% of US stocks
Cheaper than 85% of US stocks
Higher than 87% of US stocks
Higher than 77% of US stocks
Higher than 89% of US stocks
Higher than 16% of US stocks
Higher than 9% of US stocks
Higher than 18% of US stocks
Higher than 15% of US stocks
Higher than 1% of US dividend payers
Bars mark the percentile across the ~4,600 US stocks Ticker Nerd covers, among those reporting the figure.
The headline figures, each with its date. Every row carries its own link — cite it straight from here.
Carlsmed, Inc. has a market value of $410.1M and an enterprise value of $342.8M.
Revenue in the twelve months to 30 June 2026: $63.3M. The latest quarter grew 56.7% year on year.
Net income over the same four quarters: −$36.3M, a −57.4% net margin.
Diluted earnings per share, trailing twelve months: $−1.43.
Free cash flow in the twelve months to 30 June 2026: −$35.7M, after $1.1M of capital spending.
Trailing P/E: −7.0×; forward P/E: −10.7× — the forward figure prices analyst consensus estimates, not reported earnings.
Forward dividend yield: 0.00%, paying out 0% of earnings.
Carlsmed, Inc. employs 127 people — $498K of revenue per employee.
Data provided by Twelve Data
The nearest names by industry and size, scored by the same model — like for like.
Look up any of the roughly 4,600 stocks we score.
The rank is the raw material. Whether the rules would actually own Carlsmed, Inc. — and when they’d sell — is the membership. See the Ticker Nerd 20 →
Carlsmed announced it will report its third-quarter 2026 financial results after market close on November 10, 2026. Management will host a conference call and concurrent webcast beginning at 1:30 p.m. Pacific Time.
Why it matters — CARL watchers can note the date and time when the company plans to share quarterly results and discuss them with management.
Carlsmed announced the U.S. commercial launch of its aprevo® Lumbar Bi-lateral Posterior System at the North American Spine Society’s 41st Annual Meeting. The launch follows a limited market evaluation that began in February 2026, with the first in-human procedure completed on February 10, 2026.
Why it matters — The launch marks the system’s transition from limited market evaluation to U.S. commercial availability.
Carlsmed announced that on September 28, 2026, it granted stock options for 180,137 shares of common stock and 89,286 time-based restricted stock units to newly-hired Chief Financial Officer Richard Heppenstall as a material inducement to his employment. The grants were made under Nasdaq Listing Rule 5635(c)(4).
Why it matters — The announcement signals the addition of a new CFO to Carlsmed's leadership team and reflects the company's efforts to secure key executive talent as a growth-stage medical technology firm.
Carlsmed announced the appointment of Tony Jarc, Ph.D. to the newly-created role of Chief Product and AI Officer, effective immediately. Dr. Jarc will lead the development and commercialization of the company's next generation technology platform, surgical UI/UX, and personalized spine surgery procedures.
Why it matters — This appointment signals Carlsmed's continued focus on its AI-enabled personalized spine surgery platform, which is central to the company's core business and future product development.
Carlsmed, Inc. announced the appointment of Richard Heppenstall as Chief Financial Officer, effective immediately. Heppenstall joins the AI-enabled personalized spine surgery company in this leadership role.
Why it matters — A new CFO appointment signals a leadership change in the company's financial management, which Carlsmed watchers may track for continuity and strategic direction.
The 5 Wall Street analysts covering Carlsmed, Inc. have a median 12-month price target of $18, with estimates ranging from $17 to $24. These are third-party analyst estimates, not Ticker Nerd forecasts, and they are frequently wrong.
Of the 5 analysts covering Carlsmed, Inc., 5 rate it a Buy, 0 a Hold and 0 a Sell. Ticker Nerd's systematic factor model ranks Carlsmed, Inc. 30 out of 100 across roughly 4,600 US stocks as at 3 Nov 2026. None of this is personal advice — it does not consider your circumstances.
As at 3 Nov 2026, Carlsmed, Inc. ranks 30 out of 100 on Ticker Nerd's systematic factor model — a percentile across roughly 4,600 US stocks, built from its factor families. Its strongest factor family is Revisions (78 of 100).
No one can know that. What the data says: the median 12-month target from 5 analysts implies +11.9% from the last close, and Ticker Nerd's factor model ranks Carlsmed, Inc. 30 out of 100 as at 3 Nov 2026. Analyst targets are third-party estimates and frequently wrong; none of this is personal advice.
No analyst covering Carlsmed, Inc. publishes a 2030 price target — Wall Street targets run 12 to 18 months out. Sites quoting a 2030 price for CARL are extrapolating price history, which says nothing about the business. The furthest attributed numbers are the current analyst targets: $17 to $24 over the next 12 months.
Carlsmed, Inc. returned +30.2% over the 12 months to 4 Nov 2026, with dividends reinvested. Past performance does not indicate future returns.
Carlsmed Inc. is a commercial-stage medical technology company focused on AI-enabled personalized spine surgery solutions.
The most recent item we track (GlobeNewsWire, 27 Oct 2026): "Carlsmed, Inc. to Report Third Quarter 2026 Financial Results on November 10, 2026". Carlsmed announced it will report its third-quarter 2026 financial results after market close on November 10, 2026. Management will host a conference call and concurrent webcast beginning at 1:30 p.m. Pacific Time.
Carlsmed Inc. is a commercial-stage medical technology company focused on AI-enabled personalized spine surgery solutions. Its primary product, aprevo, is a technology platform designed for spine fusion procedures and combines surgical planning software, advanced image recognition, and custom-built vertebral interbody implants tailored to individual patient anatomy. The platform supports surgeons through the full workflow of care, from pre-operative planning and intra-operative guidance to post-operative data collection and clinical insights. Carlsmed’s solutions are used in hospitals and ambulatory surgical centers, where they help standardize complex spine surgery planning while supporting personalized treatment approaches. Based in Carlsbad, California, Carlsmed operates in the healthcare equipment and medical devices market, serving a specialized role in orthopedic and spine surgery technology.
CEO Mr. Michael John Cordonnier · 127 employees · United States · https://carlsmed.com
