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June 15, 2023
Read up on Verizon, Twilio Inc., T-Mobile as they approach key price targets in the near term.
Yesterday's session summary: Markets completed a mixed session yesterday while Dow Jones shed 0.68% and closed at 33,979. Nasdaq closed the day at 13,626, having gained 0.39%.
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 communication_services stocks and their price targets.
Verizon's Price target: $35.93 | Last close: $35.73 | Daily range: $35.62 – $35.98 | Off hours: $35.81
Verizon's run now faces a challenge at $35.93, which is only 20 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Verizon has posted further gains as part of an 8 day trend that has already seen the stock gain $1. on-trend Verizon closed the session yesterday with more of the same: after closing at $35.48 on Tuesday, Verizon maintained a strong bullish bias that helped the stock close higher at $35.73 yesterday. However, market bears ensured the the information and entertainment services company topped out at $35.98 and that by the end of the session, the market had marked out a distinct $35.62 to $35.98 range. The day's trading volume totalled 15.43 million shares — under the 21-day average of 23.39 million.
Twilio's price target: $63.51 | Last close: $66.29 | Daily range: $64.63 – $67.14 | Off hours: $66.45
The communication tools developer has recovered almost all of its session losses after dipping down to $64.63 yesterday. Yesterday's fall came on the back of a 5 day uptrend, during which Twilio added 5.19% to its share price the day's trading volume totalled 3.33 million shares — lower than the 21-day average of 5.82 million.
Having set a significant low of $42.74 7 months ago, the communication tools developer is trading 56.2% higher. Twilio is currently trading with a market cap of $12.19 billion with an average daily volume of 5.82 million shares. Twilio expected revenue of $1 billion with an EPS of -12.713 cents.
Twilio could begin to recover as it approaches significant support, now $2.78 away from $63.51. Dipping below could be an indication that further losses are ahead.
T-Mobile's price target: $127.28 | Last close: $128.05 | Daily range: $127.72 – $129.7 | Off hours: $128.86
An influx of sellers pushed the wireless services company to session lows around $127.72 while establishing a $127.72 to $129.7 session range yesterday. Yesterday's 1.41% loss extends a 4 day bearish run in which T-Mobile had already lost $1.48 from its share value. Yesterday's trading volume was 8.43 million shares which is slightly below the 21-day average of 9 million.
The wireless services company has shed 10.33% over the past three months. The company is currently trading with a market cap of $153.65 billion with an average daily trading volume of 9 million shares. So far this year, it has been doing worse than the Nasdaq by 31.67%. T-Mobile is forecasted to generate revenues of $19.81 billion and EPS of $1.47.
T-Mobile's bearish trend is facing a possible turning point at $127.28, which is only 77 cents away. Will be interesting to follow.
