Stagwell (NASDAQ:STGW) Given New $8.00 Price Target at Wells Fargo & Company

Stagwell (NASDAQ:STGW) had its target price reduced by Wells Fargo & Company from $9.00 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 54.89% from the stock’s previous close.

STGW has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Benchmark lowered shares of Stagwell from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.60.

Stagwell Trading Up 6.1%

Shares of Stagwell stock traded up $0.30 during mid-day trading on Monday, hitting $5.17. 1,043,376 shares of the stock were exchanged, compared to its average volume of 533,566. Stagwell has a twelve month low of $4.69 and a twelve month high of $8.18. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -518.50 and a beta of 1.51. The company has a 50-day simple moving average of $5.68 and a 200 day simple moving average of $6.43. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.05). The business had revenue of $651.74 million for the quarter, compared to analyst estimates of $686.46 million. Stagwell had a net margin of 0.01% and a return on equity of 8.03%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Research analysts forecast that Stagwell will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Stagwell

A number of hedge funds and other institutional investors have recently made changes to their positions in STGW. Jacobs Levy Equity Management Inc. raised its stake in Stagwell by 0.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 622,361 shares of the company’s stock worth $4,095,000 after acquiring an additional 1,759 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Stagwell by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,944 shares of the company’s stock worth $322,000 after acquiring an additional 1,892 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Stagwell by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 351,397 shares of the company’s stock worth $2,312,000 after acquiring an additional 1,974 shares in the last quarter. Principal Financial Group Inc. raised its stake in Stagwell by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock worth $230,000 after acquiring an additional 2,378 shares in the last quarter. Finally, Swiss National Bank raised its stake in Stagwell by 1.5% during the first quarter. Swiss National Bank now owns 178,100 shares of the company’s stock worth $1,078,000 after acquiring an additional 2,600 shares in the last quarter. 35.61% of the stock is owned by institutional investors.

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.