Etsy, Inc., Yum! Brands Inc, Walt Disney, among others, are the consumer_cyclical stocks approaching important price targets.
Friday's session summary: Leading equity indices in the US rose as Dow Jones ended the session at 34,100 after a 0.8% gain. S&P 500 gained 0.83% and closed at 4,169.48.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Let's review some consumer_cyclical stocks and their price targets.
Buyers pushing Etsy towards its price target of $101.92; currently at $101.03
Etsy, Inc. recovered from the previous trading session's losses and went up to $101.03 Friday after it traded lower at $98.71. Etsy has increased a total of $2.72 over the past 3 days, with Friday's session contributing to the uptrend. Friday's trading volume was 2.52 million shares which is slightly under the 21-day average of 2.63 million.
The e-commerce company reached a significant high of $148.2 around 2 months ago but has lost 32.19% since then. The e-commerce company's market cap currently stands at $12.46 billion with an average daily volume of 2.63 million shares. So far this year, it has been under-performing the Nasdaq by 26.24%.
Etsy's run now faces a challenge at $101.92, which is only 89 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Etsy is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 0.55 and the consensus revenue estimate is $622.67 million.
Yum! Brands's Price target: $141.28 | Last close: $140.58 | Daily range: $139.18 – $140.93 | Off hours: $140.58
Yum! Brands's recent run now faces a major challenge as concentrated supply is likely found at $141.28 with price action currently 70 cents away.
Yum! Brands has posted further gains as part of a 15 day trend that has already seen the stock gain $8.7. Friday's session pointed in the same direction — after ending Thursday at $139.8, Yum! Brands went up to $140.93 only to drop back, yet still traded well overall and closed at $140.58 Friday.
The company trades at $140.58 ahead of quarterly performance report which is scheduled to be released Wednesday.
Buyers pushing Walt Disney towards its price target of $103.68; currently at $102.5
Walt Disney's run now faces a challenge at $103.68, which is only $1.18 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Walt Disney has posted further gains as part of a 3 day trend that has already seen the stock gain $3.32. on-trend Walt Disney closed the session Friday with more of the same: bullish sentiment helped the entertainment giant to hammer out a noteworthy $99.08 to $102.56 range Friday, and finally closing at $102.5 to end the session. Daily trading volume (9.45 million shares) was slightly greater than the current multiday average of 8.24 million.