Ocado Group (LON:OCDO) Stock Price Down 10.6% - What's Next?

Key Points

• Ocado Group's share price fell by 10.6%, trading as low as GBX 266.50 ($3.62) after closing at GBX 300 ($4.07) previously.
• Despite the drop, JPMorgan Chase & Co. upgraded Ocado's price target from GBX 400 to GBX 437 with an "overweight" rating, indicating positive sentiment from some analysts.
• Ocado Group has a market capitalization of £2.23 billion and significant indicators, such as a high price-to-earnings ratio of 573.40 and a debt-to-equity ratio of 144.16.

Shares of Ocado Group plc (LON:OCDO - Get Free Report) fell 10.6% on Friday . The stock traded as low as GBX 266.50 ($3.64) and last traded at GBX 268.26 ($3.66). 30,272,717 shares were traded during mid-day trading, an increase of 273% from the average session volume of 8,112,228 shares. The stock had previously closed at GBX 300 ($4.10).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their price objective on Ocado Group from GBX 400 to GBX 437 and gave the company an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of GBX 437.

Ocado Group Price Performance

The company has a 50-day simple moving average of GBX 318.72 and a 200-day simple moving average of GBX 282.57. The stock has a market cap of £1.87 billion, a PE ratio of 479.79 and a beta of 1.85. The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82.

Ocado Group Company Profile

Ocado Group is a UK based technology company that provides end-to-end online grocery fulfilment solutions, known as the Ocado Smart Platform, to some of the world's largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. OSP comprises access to Ocado's physical infrastructure solutions, running highly efficient warehouse operations for the single pick of products, together with the entire end-to-end proprietary software applications required to operate a world class online grocery business.