Read up on Dolby Laboratories, Inc., RELX PLC, WPP plc as they approach key price targets in the near term.

Here's the most recent update: The leading indices are falling — S&P 500 trades at 3,987 after losing 0.26%. Nasdaq slipping 0.23% and closing at 11,466.

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. Take a look at these communication_services stocks and their price targets.

Dolby Laboratories active price target: $82.11; currently at $82.36

Dolby Laboratories, Inc. trades at $82.36, after ending yesterday at $82.45. While mostly sideways today, Dolby Laboratories is on a 4 day bearish trend during which it lost $2.27.

The consumer audio electronics company has gained 16.05% since its lowest print of $63.44 earlier this year. The company's market cap currently stands at $7.89 billion with an average daily trading volume of 455,890 shares. The Nasdaq has been doing worse in 2022, it has been passing it by 6.43%. $334.92 million was Dolby Laboratories's last reported revenue with $1.11 being the current EPS.

Dolby Laboratories's bearish trend is facing a possible turning point at $82.11, which is only 25 cents away. Will be interesting to follow.

After closing the previous trading day at $30.08, RELX is up to $30.57, which makes for a move of 1.65%/49.5 cents today. Today's gains are adding to RELX's a 7 day bullish trend, during which it gained a total of $1.17.

This year has been a bright one for the British analytics company after trading as low as $23.58 and going on to appreciate by 8.28% year to date. RELX's market cap is currently $58.36 billion with an average daily volume of 885,068 shares. So far this year, it has been under-performing the Nasdaq by 1.34%.

While WPP is on a 7 day uptrend today's session might suggest a slow down — WPP trades at $60.84, after ending yesterday at $60.93.

WPP is trading in a $60.8 – $61.11 range prior to its earnings announcement.