Imminent price targets among stocks following yesterday's bullish session

Published: May 27 2023, 16:50 GMT+0

Imminent price targets among stocks following yesterday's bullish session

Pay attention to the following stocks approaching critical price targets: Booking Holdings, Capri Holdings Limited, JBG SMITH Properties are the ones to watch.

A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.

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. Check out this rundown of stocks and their price targets.

Booking Holdings (BKNG) Price target: $2,582.77 | Last price: $2,591 | Daily range: $2,588.37 – $2,664.3

After closing Thursday at $2,597.37, Booking Holdings closed at $2,591 yesterday after climbing to $2,664.3 and dropping back down. While mostly sideways today, Booking Holdings is on a 7 day bearish trend during which it lost $183.61. Daily trading volume (465,297 shares) was above the current multiday average of 326,263.

9 days ago the travel booking company reached a significant high of $2,781 but has consequently lost 6.6% since then. The travel booking company's market cap currently stands at $95.70 billion with an average daily trading volume of 326,263 shares. The Nasdaq has been doing worse in 2022, it has been passing it by 7.03%. $3.78 billion was Booking Holdings's last reported revenue with $11.6 being the current EPS.

Booking Holdings's bearish trend is facing a possible turning point at $2,582.77, which is only $8.36 away. Will be interesting to follow.

Capri Holdings recoils 17 cents from key resistance at $40.14

Capri Holdings rallied 1.94% and ended the session at $39.97. Capri Holdings has increased a total of 8 cents over the past 4 days, with yesterday's session contributing to the uptrend. Daily trading volume (2.29 million shares) increased, making up 107% of the 21-day average (2.15 million).

Approximately 3 months ago, the fashion holding company reached a significant high of $68.38 but has struggled to hold onto its gains and declined 42.66% since then. Capri Holdings is currently trading with a market cap of $5 billion with an average daily volume of 2.15 million shares. So far this year, it has been under-performing the Nasdaq by 51.53%.

Price action in Capri Holdings broke through resistance at $40.14.

Capri Holdings is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.94 and the consensus revenue estimate is $1.28 billion.

Buyers pushing JBG SMITH towards its price target of $14.14; currently at $14.1

JBG SMITH spiked to $14.19 yesterday and consolidated before initiating a fresh rally to $14.1. This comes following Thursday's session in which it closed at $13.9. Trading volume totalled 1.49 million which equates to around 75% of the stock's 21-day average yesterday.

The US REIT is now trading 19.7% below its 3-month high of $26.87. JBG SMITH's market cap currently stands at $1.57 billion with an average daily volume of 2.00 million shares. JBG SMITH expected revenue of $147 million with an EPS of 19 cents.

It will be interesting to follow how JBG SMITH's run now faces a challenge at $14.14, which is only 4 cents away.