Today’s big question for investors is, “what’s going on with ZAGG Inc (NASDAQ:ZAGG) stock? Its price is jumping 0.24 points, trading at $7.92 levels, and is up 3.13% from its previous close of $7.68. The shares seem to have an active trading volume day with a reported 618667 contracts so far this session. ZAGG shares had a relatively better volume day versus average trading capacity of 689.04 thousand shares, but with a 27.57 million float and a -2.41% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ZAGG stock indicates that the average analyst price target is $11 per share. This means the stock has a potential increase of 38.89% from where the ZAGG share price has been trading recently which is between $7.47 and $7.76. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $17.
During the recent trading session for ZAGG Inc (NASDAQ:ZAGG), the company witnessed their stock rise $0.2 over a week and surge $0.46 from the price 20 days ago. When compared to their established 52-week high of $12.43, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/25/19. The recent low of $5.26 stood for a -36.28% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.39 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for ZAGG is set at $12.75, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for ZAGG Inc, the two-week RSI stands at 55.88. This figure suggests that ZAGG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ZAGG readings is similarly very revealing as it has a stochastic reading of 28.53% at this stage. This figure means that ZAGG share price today is being overbought.
Technical chart claims that ZAGG Inc (ZAGG) would settle between $7.8/share to $7.93/share level. However, if the stock price goes below the $7.51 mark, then the market for ZAGG Inc becomes much weaker. If that happens, the stock price might even plunge as low as $7.35 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
ZAGG equity has an average rating of 2.25, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated ZAGG Inc (NASDAQ:ZAGG) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ZAGG stock price is currently trading at 7.57X forward 12-month Consensus EPS estimates, and its P/E ratio is 59.1 while for the average stock in the same group, the multiple is 26.4. ZAGG Inc current P/B ratio of 1.4 means it is trading at a discount against its industry’s 6.
ZAGG Inc (ZAGG)’s current-quarter revenues are projected to climb by nearly 22.4% to hit $203750, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -0.5% from $538230 to a noteworthy $535780. At the other end of the current quarter income statement, ZAGG Inc is expected to see its adjusted earnings surge by roughly 88.5% to hit $0.98 per share. For the fiscal year, ZAGG’s earnings are projected to climb by roughly -55.8% to hit $0.61 per share.