Nevro Corp. (NYSE:NVRO) is among the top gainers of the stock market today, skyrocketing 1.74% or (1.98 points) to $116.29 from its previous close of $114.31. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 121278 contracts so far this session. NVRO shares had a relatively better volume day versus average trading capacity of 411.73 thousand shares, but with a 30.23 million float and a -4.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NVRO stock indicates that the average analyst price target is $115.56 per share. This means the stock has a potential decrease of -0.63% from where the NVRO share price has been trading recently.
During the recent trading session for Nevro Corp. (NYSE:NVRO), the company witnessed their stock drop by $-3.09 over a week and surge $4 from the price 20 days ago. When compared to their established 52-week high of $120.74, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 08/01/20. The recent low of $40.52 stood for a -3.68% since 01/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.48 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Nevro Corp., the two-week RSI stands at 55.83. This figure suggests that NVRO 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 NVRO readings is similarly very revealing as it has a stochastic reading of 41.38% at this stage. This figure means that NVRO share price today is being neutral.
Technical chart claims that Nevro Corp. (NVRO) would settle between $115.81/share to $117.32/share level. However, if the stock price goes below the $111.99 mark, then the market for Nevro Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $109.68 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -2.09. 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.
Analysts at SunTrust, assumed coverage of NVRO assigning Buy rating, according to their opinion released on January 08. Oppenheimer analysts have lowered their rating of Nevro Corp. (NYSE:NVRO) stock from Outperform to Perform in a separate flash note issued to investors on January 06. Analysts at Oppenheimer released an upgrade from Perform to Outperform for the stock, in a research note that dated back to November 07.
NVRO equity has an average rating of 2.21, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 5 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. 5 analysts rated Nevro Corp. (NYSE:NVRO) 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, NVRO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 52. Nevro Corp. current P/B ratio of 17.9 means it is trading at a premium against its industry’s 4.7.
Nevro Corp. (NVRO)’s current-quarter revenues are projected to climb by nearly 1.7% to hit $109730, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -0.4% from $387290 to a noteworthy $385650. At the other end of the current quarter income statement, Nevro Corp. is expected to see its adjusted earnings surge by roughly -96.9% to hit $-0.63 per share. For the fiscal year, NVRO’s earnings are projected to climb by roughly -118.3% to hit $-3.58 per share.