Market Analysts see Blackstone Inc. [BX] gaining to $120. Time to buy?

Blackstone Inc. [NYSE: BX] traded at a high on 10/04/22, posting a 8.13 gain after which it closed the day’ session at $93.52. The company report on September 22, 2022 that Blackstone Announces Commitment to 2,000 Refugee Hires Across Global Portfolio Companies and Real Estate Properties.

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Northampton, MA –News Direct– Blackstone.

Blackstone joins Tent’s Partnership for Refugees, a non-profit network of companies dedicated to supporting refugees worldwide; commits to the hiring of 1,500 refugees in the U.S. alone.

The results of the trading session contributed to over 5825649 shares changing hands. Over the past one week, the price volatility of Blackstone Inc. stands at 3.94% while the volatility over the past one month is 3.73%.

The market cap for BX stock reached $114.47 billion, with 707.38 million shares outstanding and 696.15 million shares in the current float. Compared to the average trading volume of 3.86M shares, BX reached a trading volume of 5825649 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Blackstone Inc. [BX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $118.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.20. 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.

Barclays have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 31, 2022. While these analysts kept the previous recommendation, Keefe Bruyette dropped their target price from $127 to $115. The new note on the price target was released on July 25, 2022, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $135, while Exane BNP Paribas analysts kept a Neutral rating on BX stock.

The Average True Range (ATR) for Blackstone Inc. is set at 3.94, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 6.45. The Price to Book ratio for the last quarter was 7.67, with the Price to Cash per share for the same quarter was set at 3.52.

How has BX stock performed recently?

Blackstone Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.12. With this latest performance, BX shares dropped by -0.32% in over the last four-week period, additionally sinking by -28.38% over the last 6 months – not to mention a drop of -15.71% 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 BX stock in for the last two-week period is set at 53.35, with the RSI for the last a single of trading hit 60.10, and the three-weeks RSI is set at 50.28 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 97.12, while it was recorded at 86.84 for the last single week of trading, and 109.60 for the last 200 days.

Blackstone Inc. [BX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Blackstone Inc. [BX] shares currently have an operating margin of +109.08 and a Gross Margin at +98.91. Blackstone Inc.’s Net Margin is presently recorded at +46.52.

Return on Equity for this stock inclined to 72.88, with Return on Assets sitting at 17.36.

Earnings analysis for Blackstone Inc. [BX]

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 BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc. go to 10.20%.

Insider trade positions for Blackstone Inc. [BX]

There are presently around $41,178 million, or 63.70% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 45,757,475, which is approximately 1.719% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 38,909,791 shares of the stock with an approximate value of $3.64 billion in BX stocks shares; and MORGAN STANLEY, currently with $2.0 billion in BX stock with ownership of nearly 7.127% of the company’s market capitalization.

Positions in Blackstone Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 857 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 33,593,500 shares. Additionally, 710 investors decreased positions by around 29,362,289 shares, while 214 investors held positions by with 377,360,291 shares. The mentioned changes placed institutional holdings at 440,316,080 shares, according to the latest SEC report filing. BX stock had 125 new institutional investments in for a total of 2,377,296 shares, while 191 institutional investors sold positions of 3,854,627 shares during the same period.


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