How did SEER's Q3 earnings surprise impact its annual performance?

**Seer's Q3 earnings surprise had a mixed impact on its annual performance.**

1. **Positive Impact on Earnings**:
- Seer's Q3 earnings per share (EPS) was higher than expected, with a reported loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.36. This represents an earnings surprise of 2.78%.
- This positive surprise is a significant improvement from the previous quarter's negative surprise of -3.23%.

|code|Ticker|Name|Date|Revenue Surprise|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|SEER|SEER.O|Seer|2023 Q4|388000|0.09|185|
|SEER|SEER.O|Seer|2024 Q1|-1250000|0|185|
|SEER|SEER.O|Seer|2024 Q2|-100000|0.01|185|
|SEER|SEER.O|Seer|2024 Q3|882000|-0.04|185|

|code|Ticker|Name|Date|Total Revenue|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|SEER|SEER.O|Seer|2023 Q4|4438000||185|
|SEER|SEER.O|Seer|2024 Q1|3066000|-0.32|185|
|SEER|SEER.O|Seer|2024 Q2|3072000|-0.35|185|
|SEER|SEER.O|Seer|2024 Q3|4032000|-0.35|185|

2. **Negative Impact on Revenue**:
- Despite the positive EPS surprise, Seer's revenue fell short of expectations, reporting $3.07 million for the quarter compared to the consensus estimate of $3.55 million. This represents a 7.61% miss.
- The revenue shortfall is a continuation of a trend, with the company missing revenue estimates for the second quarter in a row.
3. **Impact on Annual Performance Expectations**:
- Analysts forecasted a narrowing of the loss to $1.23 per share for 2024, which is an improvement from the previous quarter's estimate of $1.31 per share. This suggests that the annual performance could be less dismal than the immediate previous quarters.
- However, the revenue forecast for 2024 remains conservative at $14.9 million, which is slightly below the previous 12 months' performance.
4. **Stock Market Reaction and Analyst Sentiment**:
- Following the release of Q3 results, Seer's stock experienced a notable boost, with a 15.7% increase in trading volume.
- Analysts adjusted their price target to $7.00 per share, reflecting a more cautious outlook, with declining revenue being a more critical indicator than the reduction in forecasted losses.
5. **Institutional Activity and Market Position**:
- Institutional investors have shown interest, with several significant purchases and sales of Seer shares.
- The company's market capitalization stands at $119.18 million, with a negative P/E ratio of -1.42, indicating that the stock is not profitable as currently priced.

In conclusion, while Seer's Q3 earnings surprise was positive in terms of EPS, the revenue miss could dampen the overall annual performance outlook. However, the stock market's reaction and analyst adjustments suggest a level of optimism, particularly as institutional investors continue to show interest in the company.