Rosenblatt Securities Forecasts Strong Price Appreciation for Stagwell (NASDAQ:STGW) Stock

Key Points

• Rosenblatt Securities raised Stagwell’s price target from $10 to $13 and maintained a “buy” rating, implying 24.16% potential upside from the prior close.
• Analyst sentiment remains positive overall, with Stagwell receiving a “Moderate Buy” consensus rating and an average price target of $11.67; Needham and B. Riley also recently increased their targets.
• Stagwell exceeded quarterly EPS expectations, reporting $0.34 versus the $0.31 consensus estimate, while revenue rose 9.8% year over year to $816.03 million but fell short of expectations.

Stagwell (NASDAQ:STGW - Get Free Report) had its price objective increased by Rosenblatt Securities from $10.00 to $13.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Rosenblatt Securities's price objective would suggest a potential upside of 24.16% from the company's previous close.

A number of other equities analysts have also recently commented on the company. Wall Street Zen cut Stagwell from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 25th. Needham & Company LLC boosted their price target on Stagwell from $10.00 to $12.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings upgraded Stagwell from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. The Goldman Sachs Group began coverage on Stagwell in a research note on Monday, October 5th. They issued a "buy" rating and a $13.00 price objective on the stock. Finally, B. Riley Financial reiterated a "buy" rating and set a $12.00 price objective (up from $10.00) on shares of Stagwell in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.67.

Stagwell Price Performance

Shares of STGW stock opened at $10.47 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.99. Stagwell has a 12 month low of $4.28 and a 12 month high of $10.61. The stock has a market cap of $2.56 billion, a P/E ratio of 261.82 and a beta of 1.23. The company has a 50 day simple moving average of $8.72 and a two-hundred day simple moving average of $7.17.

Stagwell (NASDAQ:STGW - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Stagwell had a net margin of 0.31% and a return on equity of 29.37%. The business had revenue of $816.03 million for the quarter, compared to analysts' expectations of $838.38 million. During the same quarter last year, the company posted $0.24 EPS. The company's revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Stagwell will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Stagwell

A number of institutional investors have recently bought and sold shares of STGW. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Stagwell in the third quarter valued at about $87,000. Counterpoint Mutual Funds LLC bought a new stake in Stagwell during the 3rd quarter valued at approximately $683,000. State of Alaska Department of Revenue raised its stake in Stagwell by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,753 shares of the company's stock valued at $282,000 after purchasing an additional 1,693 shares during the period. Tidal Investments LLC bought a new stake in Stagwell during the 2nd quarter valued at approximately $117,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Stagwell in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 35.61% of the company's stock.

Stagwell Company Profile

Stagwell Inc is a global marketing and communications services company that helps brands, organizations and institutions develop strategies, engage audiences and manage their reputations. Its services include advertising, media, public relations, digital marketing, consumer insights, creative development and marketing technology.

The company operates through a network of agencies and specialized businesses serving clients across North America, Europe, Asia-Pacific and other international markets.

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