Stagwell Inc. (NASDAQ:STGW) Receives $8.50 Consensus Target Price from Analysts

Stagwell Inc. (NASDAQ:STGW - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.50.

A number of research firms recently weighed in on STGW. Benchmark increased their price target on Stagwell from $8.50 to $9.50 and gave the company a "buy" rating in a research report on Friday, November 8th. Needham & Company LLC reissued a "buy" rating and issued a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. Finally, Rosenblatt Securities upped their price target on shares of Stagwell from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Monday, November 18th.

Hedge Funds Weigh In On Stagwell

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

Stagwell Price Performance

NASDAQ:STGW traded down $0.14 during trading hours on Friday, reaching $6.64. 309,133 shares of the company's stock were exchanged, compared to its average volume of 518,594. The company has a market capitalization of $1.75 billion, a P/E ratio of 22.23 and a beta of 1.44. Stagwell has a 12 month low of $4.88 and a 12 month high of $8.18. The business's 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $6.96. 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 Company Profile

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.