Wells Fargo & Company Lowers Stagwell (NASDAQ:STGW) Price Target to $8.00

Stagwell (NASDAQ:STGW - Get Free Report) had its target price dropped by Wells Fargo & Company from $9.00 to $8.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 50.94% from the company's current price.

STGW has been the topic of several other reports. Benchmark cut shares of Stagwell from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $9.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $8.60.

Stagwell Price Performance

Stagwell stock traded up $0.03 during mid-day trading on Monday, hitting $5.30. The company's stock had a trading volume of 1,297,648 shares, compared to its average volume of 545,473. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $1.41 billion, a P/E ratio of -530.00 and a beta of 1.51. Stagwell has a twelve month low of $4.69 and a twelve month high of $8.18. The stock's fifty day moving average price is $5.59 and its two-hundred day moving average price is $6.39.

Stagwell (NASDAQ:STGW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.05). Stagwell had a return on equity of 8.03% and a net margin of 0.01%. The firm had revenue of $651.74 million for the quarter, compared to analysts' expectations of $686.46 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts forecast that Stagwell will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Stagwell

Several institutional investors and hedge funds have recently modified their holdings of STGW. Barclays PLC grew its holdings in shares of Stagwell by 304.6% during the 3rd quarter. Barclays PLC now owns 134,421 shares of the company's stock valued at $944,000 after acquiring an additional 101,201 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in shares of Stagwell during the 4th quarter valued at $271,000. Principal Financial Group Inc. grew its holdings in shares of Stagwell by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 34,935 shares of the company's stock valued at $230,000 after acquiring an additional 2,378 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Stagwell by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 1,612,333 shares of the company's stock valued at $10,609,000 after acquiring an additional 6,992 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Stagwell by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 800,703 shares of the company's stock valued at $5,269,000 after acquiring an additional 6,742 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Stagwell Company Profile

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.