Rosenblatt Securities Forecasts Strong Price Appreciation for Stagwell (NASDAQ:STGW) Stock

Stagwell (NASDAQ:STGW) had its target price increased by stock analysts at Rosenblatt Securities from $8.00 to $9.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 20.64% from the company’s current price.

A number of other research firms have also recently issued reports on STGW. Benchmark lifted their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Trading Up 0.4 %

Stagwell stock opened at $7.46 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell has a 12 month low of $4.84 and a 12 month high of $7.99. The company’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $6.86. The stock has a market cap of $1.96 billion, a P/E ratio of 24.33 and a beta of 1.35.

Institutional Investors Weigh In On Stagwell

Large investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Stagwell in the second quarter valued at approximately $29,000. Paloma Partners Management Co acquired a new stake in Stagwell in the 3rd quarter valued at about $77,000. Hsbc Holdings PLC raised its stake in shares of Stagwell by 25.1% in the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after acquiring an additional 3,360 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Stagwell by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after purchasing an additional 6,058 shares in the last quarter. Finally, FMR LLC lifted its holdings in Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after buying an additional 13,252 shares in the last quarter. 35.61% of the stock is currently owned by institutional investors.

About Stagwell

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.