WPP (LON:WPP) Shares Break Above Two Hundred Day Moving Average – Here’s Why

WPP plc (LON:WPP)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 308.26 and traded as high as GBX 397.80. WPP shares last traded at GBX 394.40, with a volume of 4,679,026 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on WPP. Citigroup boosted their price target on WPP from GBX 285 to GBX 430 and gave the company a “neutral” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their price target on WPP from GBX 350 to GBX 390 and gave the company a “neutral” rating in a research report on Friday, August 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 470 price target on shares of WPP in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 425 price objective on shares of WPP in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 428.75.

WPP Stock Up 3.0%

The firm has a market cap of £4.32 billion, a price-to-earnings ratio of -17.96, a PEG ratio of 13.47 and a beta of 0.74. The company has a debt-to-equity ratio of 276.02, a quick ratio of 0.89 and a current ratio of 0.87. The business’s 50-day moving average is GBX 384.25 and its 200-day moving average is GBX 310.54.

WPP (LON:WPP) last announced its quarterly earnings results on Friday, August 7th. The company reported GBX 1.80 earnings per share (EPS) for the quarter. WPP had a negative net margin of 1.81% and a negative return on equity of 9.33%. On average, equities analysts predict that WPP plc will post 81.61 EPS for the current year.

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.