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

Stagwell (NASDAQ:STGW - Get Free Report) had its price objective raised by stock analysts at Rosenblatt Securities from $9.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Rosenblatt Securities' price target would suggest a potential upside of 65.84% from the stock's previous close.

STGW has been the subject of a number of other reports. Benchmark upped their target price on Stagwell from $8.50 to $9.50 and gave the stock a "buy" rating in a research report on Friday, November 8th. Wells Fargo & Company raised Stagwell from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $9.00 in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Stagwell Stock Performance

Shares of NASDAQ STGW traded down $0.16 during midday trading on Friday, reaching $6.03. 1,109,324 shares of the company traded hands, compared to its average volume of 489,660. The stock has a 50-day moving average price of $6.43 and a 200 day moving average price of $6.88. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 301.50 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. Stagwell has a 52 week low of $5.24 and a 52 week high of $8.18.

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Hedge Funds Weigh In On Stagwell

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Stagwell in the fourth quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Stagwell in the 4th quarter worth approximately $69,000. BNP Paribas Financial Markets purchased a new position in Stagwell during the 4th quarter worth approximately $75,000. Paloma Partners Management Co acquired a new stake in Stagwell during the 3rd quarter valued at $77,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Stagwell in the fourth quarter worth $96,000. Hedge funds and other institutional investors own 35.61% of the company's stock.

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.