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May 12, 2023
Booking Holdings, Alibaba, Columbia Sportswear Company, among others, are the consumer_cyclical stocks approaching important price targets.
A recap of yesterday's session: Markets completed a mixed session yesterday, as Dow Jones slipped 0.66% and closed at 33,300. S&P 500 closed at 4,130.62, a 0.17% change.
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 Booking Holdings towards its price target of $2,671.52; currently at $2,656.58
Booking Holdings recovered from the previous trading session's losses and went up to $2,656.58 yesterday after it traded lower at $2,635.39. Yesterday's gains added to Booking Holdings's bullish trend that has lasted for 5 days so far, during which it increased a total of $76.62. Trading volume totalled 209,127 which equates to around 66% of the stock's 21-day average yesterday.
The travel booking company reached a significant high of $2,716 around 10 days ago but has lost 2.58% since then. The company is currently trading with a market cap of $98.12 billion with an average daily trading volume of 318,237 shares. The Nasdaq has been doing worse in 2022, it has been passing it by 15.11%. Booking Holdings's last revenue report was $3.78 billion with an EPS of $11.6.
Booking Holdings's run now faces a challenge at $2,671.52, which is only $14.94 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Buyers pushing Alibaba towards its price target of $89.31; currently at $87.89
Alibaba's recent run now faces a major challenge as concentrated supply is likely found at $89.31 with price action currently $1.42 away.
Alibaba has posted further gains as part of a 7 day trend that has already seen the stock gain $1.47. Alibaba lived up to expectations yesterday by maintaining its set course — the Chinese tech colossus topped out at $88.48 having ended yesterday at $87.89. However, despite early momentum, the stock gave up its gains to now trade at $87.89. Daily trading volume (27.92 million shares) was above the current multiday average of 20.83 million.
Columbia's price target: $79 | Last close: $79.33 | Daily range: $79.17 – $80.04 | Off hours: $79.33
A quiet day for Columbia as it remained range-bound within a $79.17 – $80.04 range before closing at $79.33. While mostly sideways today, Columbia is on a 5 day bearish trend during which it lost $3.17. Trading volume totalled 247,409 which equates to around 69% of the stock's 21-day average yesterday.
The clothing company has fallen back around 18.42% from the significant high of $97.4 set 3 months ago. The company's market cap currently stands at $4.92 billion with an average daily volume of 360,540 shares. Columbia has a forecast of $730.22 million with an EPS of 86 cents.
Columbia's downtrend might be halted by its support level at $79, which is only 34 cents away.
Columbia disclosed a quarterly dividend of 30 cents per share on Thursday, February 2nd that was paid on Tuesday, March 21st to all shareholders of record up until Friday, March 10th. Based on current prices, the company's decision thereby provides Columbia investors with an annual dividend yield of 1.51%.
