Credit Suisse slashes price target on Flex Ltd. [FLEX] – find out why.

Flex Ltd. [NASDAQ: FLEX] stock went on an upward path that rose over 3.33% on Tuesday, amounting to a one-week price increase of more than 3.39%. The company report on November 14, 2022 that Flex to Participate in Upcoming Investor Conference.


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Flex (NASDAQ: FLEX) has announced members of its leadership team will participate in the upcoming investor conference:.

Credit Suisse 26th Annual Technology Conference  Date: Tuesday, November 29, 2022Presentation time: 7:55am PT / 10:55am ET.

Over the last 12 months, FLEX stock rose by 17.75%. The one-year Flex Ltd. stock forecast points to a potential upside of 12.11.

The market cap for the stock reached $9.07 billion, with 455.00 million shares outstanding and 450.20 million shares in the current float. Compared to the average trading volume of 4.11M shares, FLEX stock reached a trading volume of 5924426 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Flex Ltd. [FLEX]:

Credit Suisse have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 17, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise to $22, while Cross Research analysts kept a Buy rating on FLEX stock. On February 26, 2021, analysts increased their price target for FLEX shares from 21 to 22.

The Average True Range (ATR) for Flex Ltd. is set at 0.70, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 5.61. Price to Free Cash Flow for FLEX in the course of the last twelve months was 74.38 with Quick ratio for the last quarter at 0.70.

FLEX Stock Performance Analysis:

Flex Ltd. [FLEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.39. With this latest performance, FLEX shares gained by 13.32% in over the last four-week period, additionally plugging by 32.82% over the last 6 months – not to mention a rise of 17.75% 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 FLEX stock in for the last two-week period is set at 64.26, with the RSI for the last a single of trading hit 66.82, and the three-weeks RSI is set at 62.20 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 18.37, while it was recorded at 20.08 for the last single week of trading, and 17.09 for the last 200 days.

Insight into Flex Ltd. Fundamentals:

Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

FLEX 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 FLEX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Flex Ltd. go to 16.85%.

Flex Ltd. [FLEX] Insider Position Details

There are presently around $9,093 million, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 53,915,664, which is approximately -0.534% of the company’s market cap and around 0.70% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 27,598,724 shares of the stock with an approximate value of $572.95 million in FLEX stocks shares; and JANUS HENDERSON GROUP PLC, currently with $567.97 million in FLEX stock with ownership of nearly 4.698% of the company’s market capitalization.

193 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 40,293,141 shares. Additionally, 167 investors decreased positions by around 40,536,807 shares, while 63 investors held positions by with 357,168,644 shares. The mentioned changes placed institutional holdings at 437,998,592 shares, according to the latest SEC report filing. FLEX stock had 64 new institutional investments in for a total of 20,277,892 shares, while 48 institutional investors sold positions of 3,489,488 shares during the same period.

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