For Grocery Outlet Holding Corp. [GO], Analyst sees a rise to $33. What next?

Grocery Outlet Holding Corp. [NASDAQ: GO] plunged by -$3.26 during the normal trading session on Wednesday and reaching a high of $32.67 during the day while it closed the day at $31.00. The company report on November 9, 2022 that Uber and Grocery Outlet Expand On-Demand Grocery Delivery Nationally.

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National expansion includes 386 Grocery Outlet locations across seven states.

Today Uber Technologies, Inc. (NYSE: UBER) and Grocery Outlet Holding Corp (NASDAQ GS: GO) announced the expansion of their partnership, extending on-demand and scheduled grocery delivery across the country.

Grocery Outlet Holding Corp. stock has also loss -6.85% of its value over the past 7 days. However, GO stock has declined by -25.50% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.04% and gained 9.62% year-on date.

The market cap for GO stock reached $3.03 billion, with 96.58 million shares outstanding and 88.48 million shares in the current float. Compared to the average trading volume of 1.18M shares, GO reached a trading volume of 4881946 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 Grocery Outlet Holding Corp. [GO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GO shares is $43.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GO stock is a recommendation set at 2.50. 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.

Morgan Stanley have made an estimate for Grocery Outlet Holding Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on August 23, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price from $36 to $43. The new note on the price target was released on July 06, 2022, representing the official price target for Grocery Outlet Holding Corp. stock. Previously, the target price had yet another raise from $29 to $40, while Deutsche Bank kept a Buy rating on GO stock.

The Average True Range (ATR) for Grocery Outlet Holding Corp. is set at 1.47, with the Price to Sales ratio for GO stock in the period of the last 12 months amounting to 0.92. The Price to Book ratio for the last quarter was 2.83, with the Price to Cash per share for the same quarter was set at 0.86. Price to Free Cash Flow for GO in the course of the last twelve months was 63.89 with Quick ratio for the last quarter at 0.40.

GO stock trade performance evaluation

Grocery Outlet Holding Corp. [GO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.85. With this latest performance, GO shares dropped by -9.62% in over the last four-week period, additionally sinking by -13.04% over the last 6 months – not to mention a rise of 33.85% 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 GO stock in for the last two-week period is set at 38.63, with the RSI for the last a single of trading hit 35.89, and the three-weeks RSI is set at 39.63 for Grocery Outlet Holding Corp. [GO]. The present Moving Average for the last 50 days of trading for this stock 34.56, while it was recorded at 32.63 for the last single week of trading, and 35.50 for the last 200 days.

Grocery Outlet Holding Corp. [GO]: An insightful look at the core fundamentals

Grocery Outlet Holding Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Grocery Outlet Holding Corp. [GO] 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 GO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Grocery Outlet Holding Corp. go to 13.11%.

Grocery Outlet Holding Corp. [GO]: Insider Ownership positions

There are presently around $2,975 million, in the hands of institutional investors. The top three institutional holders of GO stocks are: BLACKROCK INC. with ownership of 8,786,028, which is approximately -0.753% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 8,666,155 shares of the stock with an approximate value of $268.65 million in GO stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $230.69 million in GO stock with ownership of nearly 1.393% of the company’s market capitalization.

148 institutional holders increased their position in Grocery Outlet Holding Corp. [NASDAQ:GO] by around 13,100,171 shares. Additionally, 107 investors decreased positions by around 16,847,256 shares, while 19 investors held positions by with 66,028,169 shares. The mentioned changes placed institutional holdings at 95,975,596 shares, according to the latest SEC report filing. GO stock had 57 new institutional investments in for a total of 5,886,467 shares, while 31 institutional investors sold positions of 1,406,843 shares during the same period.


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