Blackstone (NYSE:BX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has increased Blackstone's price target from $157.00 to $181.00, indicating a potential upside of 1.62% from its current price, while maintaining a "neutral" rating on the stock.
• Various analysts have varied ratings on Blackstone, with targets ranging from $147.00 to $197.00, suggesting a mixed outlook among market experts.
• Blackstone's latest quarterly earnings report showed an EPS of $1.21, exceeding analysts' expectations of $1.10, while revenue grew 32.7% year-over-year to $3.07 billion.

Blackstone (NYSE:BX - Get Free Report) had its price objective increased by Piper Sandler from $157.00 to $181.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the asset manager's stock. Piper Sandler's price target suggests a potential upside of 1.62% from the stock's current price.

BX has been the subject of several other reports. TD Cowen reduced their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Evercore ISI upped their price objective on Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, UBS Group reduced their target price on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Blackstone has an average rating of "Hold" and a consensus price target of $170.12.

Blackstone Price Performance

Shares of NYSE BX traded up $0.01 during midday trading on Monday, hitting $178.11. 677,297 shares of the company's stock were exchanged, compared to its average volume of 4,301,543. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 1.55 and a beta of 1.65. The business's fifty day moving average price is $149.10 and its two-hundred day moving average price is $150.35.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. As a group, research analysts forecast that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ruth Porat bought 237 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director directly owned 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider directly owned 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,849,769 shares of company stock worth $54,932,307. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Blackstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1248 Management LLC acquired a new position in Blackstone during the 1st quarter worth approximately $25,000. Family CFO Inc purchased a new stake in Blackstone in the 2nd quarter valued at approximately $28,000. Wealth Preservation Advisors LLC purchased a new position in shares of Blackstone during the 1st quarter worth $28,000. Bernard Wealth Management Corp. purchased a new position in shares of Blackstone during the 4th quarter worth $34,000. Finally, Putney Financial Group LLC purchased a new position in shares of Blackstone during the 4th quarter worth $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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