Shares of SI-BONE, Inc. (SIBN) are soaring 15.79% in intraday trading on Tuesday, following the release of the company's impressive first-quarter 2025 financial results and subsequent analyst upgrades. The medical device maker, known for its minimally invasive surgical devices for the sacroiliac joint, significantly outperformed Wall Street expectations on both earnings and revenue fronts.

SI-BONE reported a quarterly adjusted loss of $0.15 per share, beating the average analyst estimate of a $0.23 loss per share. The company's revenue surged 24.9% year-over-year to $47.29 million, surpassing the Street forecast of $45.17 million. This marks the fourth consecutive quarter that SI-BONE has beaten earnings estimates, demonstrating consistent operational improvement and fueling investor confidence in the company's growth trajectory.

The strong quarterly performance has prompted several analysts to reaffirm their bullish stance on SI-BONE. Citizens JMP analyst David Turkaly reiterated a Buy rating on the stock with a price target of $32.00, suggesting substantial upside potential. Truist Securities raised its target price to $22 from $20, while Needham and Cantor Fitzgerald maintained their price targets at $24.00 and $25.00 per share, respectively. The current average analyst rating on SI-BONE shares is "buy," with 9 out of 9 analysts recommending either "strong buy" or "buy." These positive analyst actions, coupled with the company's robust financial results, have contributed to the significant stock price surge, reflecting growing investor optimism about SI-BONE's prospects in the medical equipment and supplies sector.