Market selloff delivers upcoming price targets for 3 stocks

Published: March 19 2023, 13:50 GMT+0

Market selloff delivers upcoming price targets for 3 stocks

Pay attention to the following stocks approaching critical price targets: Pegasystems Inc., CEVA, Inc., Williams-Sonoma, Inc. are the ones to watch.

Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones slipped 1.19% and closed at 31,862. S&P 500 closed at 3,916.64, a 1.1% change.

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. Let's review some stocks and their price targets.

During Friday's session, Pegasystems Inc. toiled and struggled for upward momentum before closing at $46.86. By the close, the the CRM software developer suffered a 17 cents or 0.36% loss. Friday's trading volume was 391,475 shares which is slightly below the 21-day average of 444,833.

During Friday's session, CEVA toiled and struggled for upward momentum before closing at $29.3. By the close, the the semiconductor manufacturing company suffered a $1.29 or 4.22% loss. Continuing its an 18 day bearish run (-$4.07), CEVA showed losses Friday. Daily trading volume (655,555 shares) was above the current multiday average of 90,460.

The ultra-low-power semiconductor maker has managed to gain 16.22% so far this year despite trading at lows around $24.16 previously. CEVA's market cap currently stands at $686 million with an average daily volume of 90,460 shares. CEVA expected revenue of $32.37 million with an EPS of 3 cents.

During Friday's session, Williams-Sonoma toiled and struggled for upward momentum before closing at $116.86. By the close, the the kitchenware and home furnishings specialist suffered a $3.09 or 2.58% loss. Friday's 2.58% loss extends a 5 day bearish run in which Williams-Sonoma had already lost $4.71 from its share value. Daily trading volume (3.70 million shares) increased, making up 388% of the 21-day average (953,391).

The consumer retail company has fallen back around 28.97% over the past 7 months, from a notable high of $168.87. Williams-Sonoma's market cap is currently $7.78 billion with an average daily trading volume of 953,391 shares. So far this year, it has been under-performing the Nasdaq by 3.21%.

Based on current prices, Williams-Sonoma shareholders are currently earning an annual dividend yield of 2.67% after the company distributed a quarterly dividend of 78 cents per share for all eligible shareholders as of Friday, January 20th. The most recent payment was made on Friday, February 24th.

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