BofA Securities lifts Discover Financial Services [DFS] price estimate. Who else is bullish?

Discover Financial Services [NYSE: DFS] loss -4.42% on the last trading session, reaching $98.88 price per share at the time. The company report on December 13, 2022 that Computerworld Names Discover to 2023 List of Best Places to Work in IT.

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Foundry’s Computerworld announces Discover as a 2023 Best Places to Work in IT. This annual award recognizes the top organizations that challenge their information technology (IT) staff while providing great benefits and compensation. This is the 19th year the company has been recognized as a best place to work for IT professionals.

Discover ranks No. 30 among large companies on this year’s list. The list is compiled based on a comprehensive questionnaire regarding company offerings in categories such as benefits, career development, DEI, future of work, training and retention. In addition, the rankings are reviewed and vetted by a panel of industry experts.

Discover Financial Services represents 273.00 million in outstanding shares, while the company has a total market value of $27.00 billion with the latest information. DFS stock price has been found in the range of $95.83 to $101.59.

If compared to the average trading volume of 1.79M shares, DFS reached a trading volume of 4210206 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Discover Financial Services [DFS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DFS shares is $118.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DFS stock is a recommendation set at 2.30. 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.

BofA Securities have made an estimate for Discover Financial Services shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 13, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on November 21, 2022, representing the official price target for Discover Financial Services stock. Previously, the target price had yet another raise from $104 to $116, while Morgan Stanley kept a Overweight rating on DFS stock. On September 06, 2022, analysts decreased their price target for DFS shares from 140 to 113.

The Average True Range (ATR) for Discover Financial Services is set at 3.37, with the Price to Sales ratio for DFS stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 2.04. Price to Free Cash Flow for DFS in the course of the last twelve months was 4.95.

Trading performance analysis for DFS stock

Discover Financial Services [DFS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.93. With this latest performance, DFS shares dropped by -4.58% in over the last four-week period, additionally plugging by 10.44% over the last 6 months – not to mention a drop of -14.01% 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 DFS stock in for the last two-week period is set at 38.03, with the RSI for the last a single of trading hit 30.65, and the three-weeks RSI is set at 42.78 for Discover Financial Services [DFS]. The present Moving Average for the last 50 days of trading for this stock 101.67, while it was recorded at 103.43 for the last single week of trading, and 104.01 for the last 200 days.

An analysis of insider ownership at Discover Financial Services [DFS]

There are presently around $22,627 million, or 85.00% of DFS stock, in the hands of institutional investors. The top three institutional holders of DFS stocks are: VANGUARD GROUP INC with ownership of 35,387,961, which is approximately 0.007% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 20,102,619 shares of the stock with an approximate value of $1.99 billion in DFS stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.75 billion in DFS stock with ownership of nearly 53.126% of the company’s market capitalization.

Positions in Discover Financial Services stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 388 institutional holders increased their position in Discover Financial Services [NYSE:DFS] by around 17,602,827 shares. Additionally, 441 investors decreased positions by around 21,306,321 shares, while 199 investors held positions by with 189,920,264 shares. The mentioned changes placed institutional holdings at 228,829,412 shares, according to the latest SEC report filing. DFS stock had 82 new institutional investments in for a total of 1,916,107 shares, while 96 institutional investors sold positions of 1,062,777 shares during the same period.


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