Paramount Global [PARA] stock Downgrade by JP Morgan analyst, price target now $25

Paramount Global [NASDAQ: PARA] plunged by -$0.32 during the normal trading session on Friday and reaching a high of $23.27 during the day while it closed the day at $22.73. The company report on September 14, 2022 that PARAMOUNT+ ARRIVES IN ITALY WITH UNBEATABLE OFFERING, COMBINING STRONG SLATE OF ITALIAN SERIES AND MOVIES WITH EXCLUSIVE GLOBAL ORIGINALS.

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Roberto Benigni, Elodie, Greta Scarano, and Carlo Verdone among the Italian Stars Aligning on Paramount+, Alongside Global Stars Harrison Ford, Jessica Chastain, Helen Mirren, Sylvester Stallone and Miles Teller .

Paramount Global’s Long-Standing Commitment to Italy Continues with Paramount+, as the Service Invests in Local Content and Talent with Line-Up of Originals.

Paramount Global stock has also loss -3.93% of its value over the past 7 days. However, PARA stock has declined by -6.27% in the 3 months of the year. Over the past six months meanwhile, it has lost -38.35% and lost -24.69% year-on date.

The market cap for PARA stock reached $15.09 billion, with 649.00 million shares outstanding and 584.84 million shares in the current float. Compared to the average trading volume of 9.20M shares, PARA reached a trading volume of 31457192 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Paramount Global [PARA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PARA shares is $27.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PARA stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Paramount Global shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on August 05, 2022. The new note on the price target was released on July 29, 2022, representing the official price target for Paramount Global stock. Previously, the target price had yet another drop from $37 to $20, while Goldman kept a Sell rating on PARA stock. On July 22, 2022, analysts decreased their price target for PARA shares from 30 to 18.

The Average True Range (ATR) for Paramount Global is set at 1.03, with the Price to Sales ratio for PARA stock in the period of the last 12 months amounting to 0.51. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 6.08.

PARA stock trade performance evaluation

Paramount Global [PARA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.93. With this latest performance, PARA shares dropped by -13.57% in over the last four-week period, additionally sinking by -38.35% over the last 6 months – not to mention a drop of -43.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PARA stock in for the last two-week period is set at 42.47, with the RSI for the last a single of trading hit 42.50, and the three-weeks RSI is set at 42.83 for Paramount Global [PARA]. The present Moving Average for the last 50 days of trading for this stock 24.60, while it was recorded at 22.90 for the last single week of trading, and 29.99 for the last 200 days.

Paramount Global [PARA]: An insightful look at the core fundamentals

Paramount Global’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.

Earnings per share (EPS) analysis for Paramount Global [PARA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PARA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Paramount Global go to -7.62%.

Paramount Global [PARA]: Insider Ownership positions

There are presently around $10,929 million, or 80.20% of PARA stock, in the hands of institutional investors. The top three institutional holders of PARA stocks are: BERKSHIRE HATHAWAY INC with ownership of 78,421,645, which is approximately 13.741% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 63,300,439 shares of the stock with an approximate value of $1.44 billion in PARA stocks shares; and BLACKROCK INC., currently with $1.02 billion in PARA stock with ownership of nearly -0.77% of the company’s market capitalization.

Positions in Paramount Global stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 420 institutional holders increased their position in Paramount Global [NASDAQ:PARA] by around 43,257,775 shares. Additionally, 479 investors decreased positions by around 41,788,852 shares, while 138 investors held positions by with 395,765,170 shares. The mentioned changes placed institutional holdings at 480,811,797 shares, according to the latest SEC report filing. PARA stock had 106 new institutional investments in for a total of 9,165,668 shares, while 162 institutional investors sold positions of 5,302,625 shares during the same period.


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