Market Analysts see Otis Worldwide Corporation [OTIS] gaining to $80. Time to buy?

Otis Worldwide Corporation [NYSE: OTIS] traded at a high on 12/08/22, posting a 0.94 gain after which it closed the day’ session at $79.74. The company report on October 27, 2022 that Otis and Cambodia Academy of Digital Technology Announce Winners of STEM Robotic Competition.

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Otis volunteer mentors and students from the Cambodia Academy of Digital Technology proposed innovative solutions to tackle urban mobility issues.

Otis Worldwide Corporation (NYSE: OTIS), the world’s leading company for elevator and escalator manufacturing, installation, and service, announced the winners of a robotics competition held in partnership with The Asia Foundation (TAF) and CADT (Cambodia Academy of Digital Technology), a top institute that provides higher education, professional training, Research & Development, and innovation for digital technology.

The results of the trading session contributed to over 2376747 shares changing hands. Over the past one week, the price volatility of Otis Worldwide Corporation stands at 1.82% while the volatility over the past one month is 2.08%.

The market cap for OTIS stock reached $32.84 billion, with 418.50 million shares outstanding and 416.36 million shares in the current float. Compared to the average trading volume of 2.15M shares, OTIS reached a trading volume of 2376747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Otis Worldwide Corporation [OTIS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $77.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTIS stock is a recommendation set at 2.70. 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 Otis Worldwide Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 01, 2022. The new note on the price target was released on November 07, 2022, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another drop from $100 to $62, while JP Morgan kept a Neutral rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.74, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.38. Price to Free Cash Flow for OTIS in the course of the last twelve months was 40.84 with Quick ratio for the last quarter at 0.90.

How has OTIS stock performed recently?

Otis Worldwide Corporation [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.15. With this latest performance, OTIS shares gained by 8.99% in over the last four-week period, additionally plugging by 4.92% over the last 6 months – not to mention a drop of -7.50% 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 OTIS stock in for the last two-week period is set at 64.85, with the RSI for the last a single of trading hit 65.06, and the three-weeks RSI is set at 63.50 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 71.95, while it was recorded at 79.23 for the last single week of trading, and 73.53 for the last 200 days.

Otis Worldwide Corporation [OTIS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +15.20 and a Gross Margin at +29.43. Otis Worldwide Corporation’s Net Margin is presently recorded at +8.71.

Otis Worldwide Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Earnings analysis for Otis Worldwide Corporation [OTIS]

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 OTIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otis Worldwide Corporation go to 7.10%.

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