AtriCure

ATRC · NASDAQ

$57.67+$2.14 (+3.85%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $55.53

ATRC analyst rating

BuyConsensus of 11 analysts over the last 12 months. 82% rate it a buy.

Strong buy0
Buy9
Hold2
Underperform0
Sell0

12-month price target · 11 analysts

Average $56.61 (−1.8% downside)

Low: $43.43
Now: $57.67
High: $68.25

Upgrades and downgrades

The latest rating actions, newest first

ATRC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 12, 2026	Maintains	Buy	$55.00 → $63.00	48%
Freedom Capital Markets	Oct 2, 2026	Downgrade	Buy → Hold	$43.00 → $57.00	40%
Needham	Sep 2, 2026	Maintains	Buy	$45.00 → $64.00	45%
Piper Sandler	Aug 27, 2026	Maintains	Overweight	$50.00 → $60.00	43%
BTIG	Aug 24, 2026	Maintains	Buy	$45.00 → $55.00	56%
UBS	Jul 28, 2026	Maintains	Buy	$55.00 → $50.00	89%
Canaccord Genuity	May 6, 2026	Maintains	Buy	$53.00 → $55.00	44%
Canaccord Genuity	Feb 18, 2026	Maintains	Buy	$64.00 → $53.00	44%
UBS	Feb 18, 2026	Maintains	Buy	$60.00 → $55.00	50%
Citizens	Feb 18, 2026	Maintains	Market Outperform	$60.00 → $52.00	36%

The case for and against

Updated Oct 14, 2026

Bull case

AtriCure is well positioned for a positive fundamental outlook because BoxX-NoAF POAF data is expected to read out positively, which could validate expanded use of EnCompass and AtriClip in a much larger patient pool. The company already benefits from a dominant role in open surgical ablation and LAAM, a large direct sales force, strong reimbursement, and a business model that can leverage existing commercial infrastructure as margins expand. Investors also gain support from underpenetrated demand, with the STS quality metric and a potential POAF label potentially tripling TAM, while 2026E adjusted EBITDA margin is modeled around 14.6% and revenue is targeted near ~$750M in 2028 and ~$1B in 2030.

Bear case

AtriCure is trading as if the upside from BoxX-NoAF and the expected EBITDA acceleration in 2028-2030 is already largely reflected, with the shares having roughly doubled since early June and now valued at a peer-group-high ~25x 2027E EBITDA and >20% above the one-year median multiple. The bearish case also hinges on execution and timing risk: full enrollment is targeted by ~YE26, in-house POAF data is expected toward the latter part of 1Q27, and a longer-term readout on clinical AF reduction may not come until ~2030, leaving a long period of uncertainty. Fundamentally, 2025A revenue of $535M, adjusted EBITDA of $62M, and an adjusted net loss of ($0.11) per share suggest that current profitability is still modest, while risks from competition, procedure mix shifts, sales force attrition, open-heart surgery deceleration, and litigation could pressure the investment case.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.