Stifel raises HeartFlow stock price target to $45 on plaque growth

Stifel has increased its price target for HeartFlow Inc. shares (NASDAQ:HTFL) to $45.00, up from $40.00, while retaining a Buy rating. The company's stock is currently priced at $31.01 with a market capitalization of $2.67 billion. HeartFlow's shares have risen by 50% over the past six months. Analysts have raised their earnings estimates for the upcoming period, with 3 revisions noted.

However, the platform's Fair Value analysis suggests the stock may be overvalued at the moment. HeartFlow reported that its second-quarter 2026 revenue was $64.1 million, surpassing their prediction of $56.7 million and the consensus estimate of $56.6 million. This growth is attributed to both the company's plaque and FFRCT businesses.

The emerging plaque business, which accounts for about 12% of second-quarter revenues, is experiencing growth due to positive reimbursement implementation in 2026. The core U.S. FFRCT business, making up roughly 81% of second-quarter revenues, grew by approximately 32%. The company's gross margins reached a new quarterly high of 83.3%, and operating expense leverage exceeded expectations.

HeartFlow has raised its full-year 2026 revenue guidance to a range of $246 million to $250 million, up from the previous range of $228 million to $232 million.