Stagwell’s (STGW) Buy Rating Reaffirmed at Needham & Company LLC

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $9.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 49.50% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of Stagwell in a research report on Thursday. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $9.00 in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Stagwell Stock Up 0.5 %

Stagwell stock opened at $6.02 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. Stagwell has a fifty-two week low of $5.29 and a fifty-two week high of $8.18. The firm has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $6.75. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 301.00 and a beta of 1.56.

Hedge Funds Weigh In On Stagwell

Several institutional investors and hedge funds have recently added to or reduced their stakes in STGW. Quarry LP acquired a new stake in shares of Stagwell during the 4th quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Stagwell in the fourth quarter worth $69,000. BNP Paribas Financial Markets bought a new stake in Stagwell in the 4th quarter valued at $75,000. Paloma Partners Management Co acquired a new position in Stagwell in the third quarter worth about $77,000. Finally, Squarepoint Ops LLC acquired a new position in Stagwell during the fourth quarter worth $96,000. 35.61% of the stock is currently owned by institutional investors.

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.