ESTA · NASDAQ · STOCK
Establishment Labs Holdings (ESTA) Stock Analysis
$61.68
52W $38.55 – $97.59
53/100
$1.81B
-47.1
1.06
Is ESTA Bullish or Bearish?
Mixed.
Innellis AI committee rates Establishment Labs Holdings Inc. (ESTA) Watch with a composite score of 53/100
, based on 6 analysts with 33% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +6.67 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -13.33 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Growth Analyst sees a compelling case — revenue growing 38.5% yoy -- genuine top-line momentum. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Revenue growing 38.5% YoY -- genuine top-line momentum — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
Bear Case
- Price-to-book of 89.9x prices in significant intangible value — Value
- ROE of only -203.9% -- cheap may mean cheap for a reason — Value
- Debt-to-equity of 11.04 adds balance-sheet risk to the value case — Value
- MACD histogram negative -- bearish momentum — Technical
- High leverage (debt-to-equity 11.04) amplifies downside in a stress scenario — Risk
- Bollinger bandwidth of 19.8% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
53/100
Agreement
33%
Analysts
6
Conviction
Contested
Sector Rank
Top 76%
of 192 Healthcare peers
Value Analyst
bearish
32
/ 100 · Moderate confidence
Multiples don't clear a genuine value bar here, or cheapness looks justified by weak fundamentals
− Price-to-book of 89.9x prices in significant intangible value
Growth Analyst
bullish
85
/ 100 · Moderate confidence
Strong, accelerating growth with consistent execution
+ Revenue growing 38.5% YoY -- genuine top-line momentum
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
bearish
32
/ 100 · Moderate confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 11.04) amplifies downside in a stress scenario
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 51.7 to 53.3.
- Committee agreement fell notably from 50% to 33%.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 3 signal(s) disappeared.
- Analyst(s) changed stance: Technical Analyst.
Analyst-level changes:
- Risk Analyst: +1 bearish signal(s).
- Technical Analyst: stance bearish->neutral; score 38->48 (+10).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
33.9
Neutral
MACD Histogram
-0.091
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Lh Ll
Support
$53.66
Resistance
$78.00
Bollinger %B
0.14
Inside Bands
Price vs Moving Averages
EMA 9
$63.73
Below
EMA 21
$66.34
Below
EMA 50
$71.19
Below
EMA 200
$70.46
Below
Fundamental Analysis
Valuation
67
Growth
72
Profitability
25
Financial Health
50
Cash Flow
15
Valuation
P/E Ratio
-47.1×
P/B Ratio
85.97×
PEG Ratio
-0.52
Dividend Yield
0.00%
52W High
$97.59
52W Low
$38.55
Quality & Growth
ROE
-21686.0%
ROA
-1429.7%
Gross Margin
7048.9%
Operating Margin
-763.0%
Revenue Growth YoY
—
Debt / Equity
12.20
AI Fundamental Assessment
P/E ratio of -47.1 (inexpensive relative to a 15-40x range); Price-to-book of 86.0x; PEG ratio of -0.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of -216.9%; Return on assets of -14.3%; Net margin of -15.8%; Gross margin of 70.5%; Current ratio of 3.84 (healthy short-term liquidity); Debt-to-equity of 12.20; Free cash flow per share is negative (-1.40); Most recent quarter beat estimates by 3.8%; EPS growth accelerating (-400.0% -> +26.7% QoQ); Analyst estimates falling over recent quarters
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