why Verizon Communications Inc. [VZ] is a Good Choice for Investors After New Price Target of $50.69

Verizon Communications Inc. [NYSE: VZ] price plunged by -0.05 percent to reach at -$0.02. The company report on October 15, 2022 that Razer and Verizon Unveil the Razer Edge 5G – the Ultimate 5G Handheld Gaming Device.

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Announced by Razer CEO Min-Liang Tan during the RazerCon 2022 keynote, the Razer Edge 5G delivers thousands of AAA games playable on a jaw-dropping 6.8″ AMOLED 144Hz display.

Razer™, the leading global lifestyle brand for gamers, together in partnership with Verizon today unveiled the Razer Edge 5G, the ultimate 5G handheld gaming device during a dedicated keynote address at RazerCon 2022. This groundbreaking collaboration will bring to market the world’s first dedicated 5G handheld console – equipped with the world’s most advanced display of any gaming handheld, powered by the latest Snapdragon® G3x Gen 1 Gaming Platform, and running on Verizon 5G Ultra Wideband, it is specifically engineered to provide the best gaming performance while on the go.

A sum of 26011689 shares traded at recent session while its average daily volume was at 21.85M shares. Verizon Communications Inc. shares reached a high of $36.91 and dropped to a low of $36.34 until finishing in the latest session at $36.38.

The one-year VZ stock forecast points to a potential upside of 28.23. The average equity rating for VZ stock is currently 2.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Verizon Communications Inc. [VZ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VZ shares is $50.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VZ stock is a recommendation set at 2.90. 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.

Oppenheimer have made an estimate for Verizon Communications Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 06, 2022. The new note on the price target was released on August 18, 2022, representing the official price target for Verizon Communications Inc. stock. Previously, the target price had yet another raise to $51, while BofA Securities analysts kept a Neutral rating on VZ stock.

The Average True Range (ATR) for Verizon Communications Inc. is set at 0.95, with the Price to Sales ratio for VZ stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 0.44. Price to Free Cash Flow for VZ in the course of the last twelve months was 37.47 with Quick ratio for the last quarter at 0.70.

VZ Stock Performance Analysis:

Verizon Communications Inc. [VZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.28. With this latest performance, VZ shares dropped by -11.33% in over the last four-week period, additionally sinking by -32.42% over the last 6 months – not to mention a drop of -29.93% 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 VZ stock in for the last two-week period is set at 31.77, with the RSI for the last a single of trading hit 32.31, and the three-weeks RSI is set at 31.82 for Verizon Communications Inc. [VZ]. The present Moving Average for the last 50 days of trading for this stock 41.31, while it was recorded at 36.20 for the last single week of trading, and 48.75 for the last 200 days.

Insight into Verizon Communications Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Verizon Communications Inc. [VZ] shares currently have an operating margin of +23.92 and a Gross Margin at +45.73. Verizon Communications Inc.’s Net Margin is presently recorded at +16.51.

Return on Equity for this stock inclined to 29.49, with Return on Assets sitting at 6.46.

Verizon Communications Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

VZ Stock EPS

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 VZ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Verizon Communications Inc. go to 3.35%.

Verizon Communications Inc. [VZ] Insider Position Details

There are presently around $97,184 million, or 64.90% of VZ stock, in the hands of institutional investors. The top three institutional holders of VZ stocks are: VANGUARD GROUP INC with ownership of 345,733,122, which is approximately 4.697% of the company’s market cap and around 0.06% of the total institutional ownership; BLACKROCK INC., holding 316,099,553 shares of the stock with an approximate value of $11.5 billion in VZ stocks shares; and STATE STREET CORP, currently with $5.96 billion in VZ stock with ownership of nearly -2.468% of the company’s market capitalization.

Positions in Verizon Communications Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,547 institutional holders increased their position in Verizon Communications Inc. [NYSE:VZ] by around 188,260,422 shares. Additionally, 1,332 investors decreased positions by around 146,469,512 shares, while 212 investors held positions by with 2,336,623,249 shares. The mentioned changes placed institutional holdings at 2,671,353,183 shares, according to the latest SEC report filing. VZ stock had 121 new institutional investments in for a total of 9,388,399 shares, while 156 institutional investors sold positions of 17,068,264 shares during the same period.


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