Stagwell (NASDAQ:STGW) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Stagwell (NASDAQ:STGW) had its price target boosted by research analysts at Needham & Company LLC from $6.36 to $7.25 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 29.00% from the stock’s previous close.

Several other analysts have also recently issued reports on STGW. Morgan Stanley reduced their price objective on Stagwell from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Zacks Research raised Stagwell from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Stagwell in a research note on Wednesday, October 8th. Rosenblatt Securities lowered their price target on shares of Stagwell from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Stagwell from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Stagwell currently has a consensus rating of “Hold” and a consensus price target of $8.15.

Stagwell Stock Performance

NASDAQ STGW opened at $5.62 on Friday. The stock has a 50-day moving average of $5.27 and a two-hundred day moving average of $5.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.86 and a quick ratio of 0.86. Stagwell has a 1-year low of $4.03 and a 1-year high of $8.18. The company has a market cap of $1.45 billion, a P/E ratio of 10.11 and a beta of 1.51.

Hedge Funds Weigh In On Stagwell

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Stagwell by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,548,288 shares of the company’s stock valued at $33,567,000 after purchasing an additional 149,020 shares during the last quarter. Boston Partners increased its stake in Stagwell by 40.9% in the second quarter. Boston Partners now owns 3,273,852 shares of the company’s stock valued at $15,515,000 after purchasing an additional 950,913 shares during the period. Geode Capital Management LLC raised its holdings in shares of Stagwell by 23.6% in the second quarter. Geode Capital Management LLC now owns 2,852,617 shares of the company’s stock valued at $12,838,000 after buying an additional 544,464 shares during the last quarter. ABLE Financial Group LLC acquired a new stake in shares of Stagwell during the second quarter worth about $10,001,000. Finally, Penn Capital Management Company LLC grew its holdings in shares of Stagwell by 24.8% during the first quarter. Penn Capital Management Company LLC now owns 2,084,525 shares of the company’s stock worth $12,646,000 after buying an additional 413,597 shares during the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

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.