Overview
Baird initiated coverage of Guardant Health Inc. (NASDAQ: GH) with an Outperform rating and established a price target of $120.00, which represents approximately 14% upside versus the then-current share price of $104.85. The firm assigned a Speculative Risk designation alongside its positive rating.
Recent performance and scale
The shares have advanced sharply over the past year, delivering a 117.89% gain. Guardant Health carries a market capitalization of $13.51 billion and reported revenue growth of 30.38% over the most recent twelve-month period.
Baird’s rationale
In its initiation, Baird emphasized Guardant Health’s standing as a leader in the therapy-selection segment of precision oncology testing. The note also pointed to upside optionality from several pipeline initiatives the firm believes could add value to the business over time. While positive on growth potential, the analyst highlighted reservations around two areas: the long-term share prospects for the company’s Shield test in colorectal cancer, and Guardant’s competitive positioning in minimal residual disease applications.
Other analyst activity and company developments
Guardant reported preliminary fourth-quarter 2025 results that surpassed Canaccord Genuity’s estimates and the FactSet consensus, with the company citing strong volume growth in both its Oncology and Shield test lines as drivers of the outperformance. Regulatory progress also featured in recent developments: the U.S. Food and Drug Administration has approved Guardant360 CDx as a companion diagnostic to identify patients with BRAF V600E-mutant metastatic colorectal cancer, based on data from Pfizer’s Phase 3 BREAKWATER trial.
Following those results and regulatory milestones, other firms have reiterated or increased bullish price targets. Canaccord Genuity reiterated a Buy rating with a $125.00 target. Stifel raised its target to $120.00, citing expectations for solid growth in volume and average selling price in 2026. Jefferies raised its price target to $130.00 while maintaining a Buy rating and noting the company’s significant year-to-date share-price appreciation.
Implications
Taken together, the analyst initiations and target increases reflect sustained investor interest and confidence in Guardant Health’s near-term commercial momentum and prospects for pipeline-driven upside. At the same time, the Speculative Risk designation and the noted competitive concerns indicate that investors and analysts remain attentive to execution around Shield and minimal residual disease positioning.
Key points
- Baird initiated coverage on Guardant Health with an Outperform rating and $120 price target, attaching a Speculative Risk designation.
- The stock has gained 117.89% over the last year; the company reports a $13.51 billion market capitalization and 30.38% revenue growth over the past twelve months.
- Multiple brokerages have maintained or raised bullish targets following strong preliminary fourth-quarter 2025 results and FDA approval for Guardant360 CDx in a specific colorectal cancer indication.
Risks and uncertainties
- Uncertainty over Shield’s long-term colorectal cancer market share - this could affect revenue growth tied to that product line.
- Competitive positioning in minimal residual disease applications appears limited, per the initiating analyst’s note - competitive dynamics in MRD could influence longer-term adoption and pricing.
- The Speculative Risk designation signals higher execution and outcome uncertainty relative to more established coverage cases.