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CARLCARLHealthcare · Health Information Services

CARL Stock Forecast: Carlsmed, Inc. Price Predictions for 2026-2027

Last close, 12 Oct 2026
$15
+2.50% on the day

The 5 Wall Street analysts covering Carlsmed, Inc. hold a median 12-month price target of $18 — +21.8% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 33 of 100 as at 12 Oct 2026 — in the lower half. The Street sees upside; the factor read is a caution. That gap is the story on this page.

Market cap
$393.7M
Ticker Nerd rank
33 / 100
Median analyst target
$18
Analysts covering
5
Revenue$18.9M+56.7% y/y
Operating income−$11.0M
Net income−$10.5M
Free cash flow−$8.1M
Quarterly, 8 quarters to 30 June 2026 · latest quarter's figure shown
Total return, dividends reinvested
1W
−3.4%
1M
+0.3%
YTD
+19.7%
1Y
+12.7%
From 52W high
−13.0%
From 52W low
+67.4%
$9
$17
52-week range, adjusted closes · the dot is the last close
Ticker Nerd rank

CARL stock analysis: one number for the whole business

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.

Where the model ranks itAs at 12 Oct 2026
33 / 100

Percentile across ~4,600 US stocks on Ticker Nerd’s systematic factor model. Higher is better. How the model is built and tested

Revisions
87
Momentum
61
Size
56
Growth
39
Quality
34
Issuance
28
Value
26
Accruals
24
Volatility
10

Revisions (87): Analysts have, on balance, been raising their forecasts.

Volatility (10): The share price moves around a lot.

Built and run by Aslam Ghouse, an ex-Goldman Sachs quant trader with fourteen years in markets.

Wall Street

CARL stock forecast 2026-2027: analyst price targets & predictions

The bullish and bearish analyst opinions on CARL, reported as data — targets and ratings, the market's view beside the model's.

Share price and the analyst range, 12 monthsAdjusted close, US dollars
$10$15$20Jan 26Apr 26Jul 26Oct 26CARLHigh $23Median $18Low $17

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

What Wall Street says5 analysts
5 Buy0 Hold0 Sell
Low $17Median $18High $23

The green dot is the last close — the median target sits +21.8% from it.

Recent analyst actionsNewest first
DateFirmActionRatingTarget
28 Sept 2026BTIGReiteratesBuy$23
6 Aug 2026Truist SecuritiesMaintainsBuy$18 → $20
6 Aug 2026Truist SecuritiesMaintainsBuy—
1 July 2026NeedhamInitiatesBuy—
1 July 2026NeedhamInitiatesBuy$17
6 May 2026BTIGReiteratesBuy—
15 Apr 2026Truist SecuritiesMaintainsBuy—
9 Apr 2026Goldman SachsMaintainsBuy—
15 Dec 2025BTIGReiteratesBuy—
7 Nov 2025BTIGMaintainsBuy—
7 Nov 2025Truist SecuritiesReiteratesBuy—
18 Aug 2025Goldman SachsInitiatesBuy—
18 Aug 2025Piper SandlerInitiatesOverweight—
18 Aug 2025Truist SecuritiesInitiatesBuy—

Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.

Market Radar

This page is one stock. Monday covers all of them.

Computed off the Friday close and sent before the US open.

Market Radar reports the week’s largest rank changes across roughly 4,600 US stocks, the factor behind each one, and where the market went. CARL appears on the weeks it earns a place.

Free, every Monday. Unsubscribe any time.

Performance

CARL vs the S&P 500

Both lines are total return — dividends reinvested — so the comparison is honest on both sides.

Over the twelve months to 12 Oct 2026, Carlsmed, Inc. returned +12.7% against +20.4% for the S&P 500, dividends included.

CARL vs S&P 500, last 12 monthsTotal return, rebased to 100
6080100120140Jan 26Apr 26Jul 26Oct 26CARLS&P 500

Download this chart as an image — free to reuse; link this page as the source.

Data provided by Twelve Data

Estimates

CARL analyst estimate revisions

Not the forecast itself — the direction analysts are revising it. Revision direction is one of the model's factor families.

Which way the estimates are movingNext fiscal year
Analysts raising
1
Analysts cutting
1
Fundamentals

Carlsmed, Inc. (CARL) financial data

A margin means little on its own. Each bar marks where the figure sits across the whole US universe we score.

Valuation
Trailing P/E
−6.8×

Cheaper than 91% of US stocks

Price / sales
6.2×

Cheaper than 20% of US stocks

Price / book
4.7×

Cheaper than 21% of US stocks

EV / EBITDA
−8.5×

Cheaper than 84% of US stocks

Growth & margins
Revenue growth (YoY)
56.7%

Higher than 88% of US stocks

Earnings growth (YoY)
56.7%

Higher than 76% of US stocks

Gross margin
76.8%

Higher than 89% of US stocks

Operating margin
−58.3%

Higher than 16% of US stocks

Net margin
−57.4%

Higher than 9% of US stocks

Returns & dividend
Return on equity
−66.1%

Higher than 18% of US stocks

Return on assets
−28.2%

Higher than 15% of US stocks

Dividend yield
0.0%

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.

Key statistics

Carlsmed, Inc. (CARL) statistics: revenue, profit & scale

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 $393.7M and an enterprise value of $326.4M.

  • 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.

  • Shares outstanding: 27.3M.

  • Trailing P/E: −6.8×; forward P/E: −10.4× — 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.

Statement figures: company filings via Twelve Data, four quarters to 30 June 2026 · market figures as at 13 Oct 2026

Data provided by Twelve Data

Peers

CARL vs competitors

The nearest names by industry and size, scored by the same model — like for like.

Its peer group, ranked by the same modelHealth Information Services
CompanyMarket capTKN rank
CARLCarlsmed, Inc.$393.7M
33
CTEVClaritev Corp.$412.3M
64
SLPSimulations Plus, Inc.$374.2M
—
NRCNRC Health$460.0M
90
EVHEvolent Health, Inc.$474.5M
61
WEAVWeave Communications, Inc.$590.4M
81
SOPHSOPHiA GENETICS SA$605.7M
55

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 →

News

Latest CARL news & analysis

Carlsmed, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

GlobeNewsWire · 2 Oct 2026positive

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 Appoints Tony Jarc as Chief Product and AI Officer

GlobeNewsWire · 1 Oct 2026positive

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 Appoints Richard Heppenstall as Chief Financial Officer

GlobeNewsWire · 28 Sept 2026neutral

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.

Carlsmed, Inc. Files Patent Infringement Lawsuit against DeGen Medical

GlobeNewsWire · 15 Sept 2026neutral

Carlsmed, Inc. filed a patent infringement lawsuit against DeGen Medical, Inc. in the United States District Court for the District of South Carolina Florence Division. The company announced the filing on Sept. 15, 2026.

Why it matters — A Carlsmed watcher would care because this legal action signals the company is defending its AI-enabled personalized spine surgery technology and intellectual property.

Carlsmed, Inc. Announces Chief Operating Officer Appointment

GlobeNewsWire · 8 Sept 2026positive

Carlsmed, Inc. announced that Jeff Bertolini has been promoted to Chief Operating Officer, effective immediately. Bertolini joined Carlsmed in September 2024, previously serving as Senior Vice President of Operational Excellence and earlier as Vice President of Advanced Manufacturing Technologies, with prior leadership roles at SI-BONE, NuVasive, and US Surgical.

Why it matters — A CARL watcher would care because bringing an experienced operations and technology leader into the COO role signals continuity in the management team overseeing the company's AI-enabled spinal surgery operations.

FAQ

Frequently asked questions about CARL stock

What is the CARL stock price forecast for 2026-2027?

The 5 Wall Street analysts covering Carlsmed, Inc. have a median 12-month price target of $18, with estimates ranging from $17 to $23. These are third-party analyst estimates, not Ticker Nerd forecasts, and they are frequently wrong.

Is CARL stock a buy right now?

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. 33 out of 100 across roughly 4,600 US stocks as at 12 Oct 2026. None of this is personal advice — it does not consider your circumstances.

How does Ticker Nerd's model rank CARL?

As at 12 Oct 2026, Carlsmed, Inc. ranks 33 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 (87 of 100).

Will CARL stock go up?

No one can know that. What the data says: the median 12-month target from 5 analysts implies +21.8% from the last close, and Ticker Nerd's factor model ranks Carlsmed, Inc. 33 out of 100 as at 12 Oct 2026. Analyst targets are third-party estimates and frequently wrong; none of this is personal advice.

What is the CARL stock forecast for 2030?

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 $23 over the next 12 months.

How has CARL stock performed over the past year?

Carlsmed, Inc. returned +12.7% over the 12 months to 12 Oct 2026, with dividends reinvested. Past performance does not indicate future returns.

What does Carlsmed, Inc. do?

Carlsmed Inc. is a commercial-stage medical technology company focused on AI-enabled personalized spine surgery solutions.

What is the latest news on CARL?

The most recent item we track (GlobeNewsWire, 2 Oct 2026): "Carlsmed, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)". 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).

Company

About Carlsmed, Inc.

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