Inogen (INGN) Stock Forecast & Price Target

Inogen Inc. has demonstrated significant operational improvement, with its adjusted EBITDA margin increasing by 1,850 basis points year-over-year, signaling enhanced profitability despite an overall negative EBITDA. The company's gross margin rose by 820 basis points year-over-year to reach 45.3%, surpassing previous consensus expectations, which reflects effective cost management and product pricing strategies. Furthermore, the robust growth in the B2B segment, particularly a 28.1% increase in reported sales, suggests strong demand for Inogen's products, driven by new customer acquisitions and expanded share in a competitive market.

Inogen Inc faces significant challenges that contribute to a negative outlook on its stock. Key risks include slower than expected revenue growth, worsening margins, and potential market share loss to competitors, all exacerbated by supply chain issues. In the most recent reports, Direct-to-Consumer (DTC) sales declined substantially, leading to lowered adjusted EBITDA estimates for 2025 and 2026, highlighting concerns about the company's growth trajectory and financial health.