Comcast Corporation [CMCSA] stock Upgrade by Wells Fargo analyst, price target now $38

Comcast Corporation [NASDAQ: CMCSA] traded at a low on 12/30/22, posting a -0.23 loss after which it closed the day’ session at $34.97. The company report on December 29, 2022 that Comcast Awards More Than $4.3 Million in 2022 To Advance Digital Adoption, Skills Training in Philadelphia.

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Comcast announced it has awarded more than $4.3 million in grants in 2022 to 30 nonprofit organizations across Philadelphia that support digital adoption and skills training for residents.

Each organization offers programming aimed at connecting residents and businesses in Philadelphia to the Internet and building digital skills. The grants were distributed as part of Project UP, Comcast’s 10-year, $1 billion commitment to advance digital equity through programs and community partnerships that connect people to the Internet, advance economic mobility, and open doors for the next generation of innovators, entrepreneurs, storytellers and creators.

The results of the trading session contributed to over 15385172 shares changing hands. Over the past one week, the price volatility of Comcast Corporation stands at 1.64% while the volatility over the past one month is 2.30%.

The market cap for CMCSA stock reached $151.54 billion, with 4.38 billion shares outstanding and 4.28 billion shares in the current float. Compared to the average trading volume of 26.49M shares, CMCSA reached a trading volume of 15385172 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Comcast Corporation [CMCSA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CMCSA shares is $42.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CMCSA stock is a recommendation set at 2.40. 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.

Wells Fargo have made an estimate for Comcast Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 05, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $42 to $36. The new note on the price target was released on October 13, 2022, representing the official price target for Comcast Corporation stock. Previously, the target price had yet another drop from $60 to $44, while Atlantic Equities kept a Neutral rating on CMCSA stock.

The Average True Range (ATR) for Comcast Corporation is set at 0.81, with the Price to Sales ratio for CMCSA stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 1.31. Price to Free Cash Flow for CMCSA in the course of the last twelve months was 11.30 with Quick ratio for the last quarter at 0.80.

How has CMCSA stock performed recently?

Comcast Corporation [CMCSA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.43. With this latest performance, CMCSA shares dropped by -4.56% in over the last four-week period, additionally sinking by -13.20% over the last 6 months – not to mention a drop of -30.88% 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 CMCSA stock in for the last two-week period is set at 52.02, with the RSI for the last a single of trading hit 50.64, and the three-weeks RSI is set at 52.79 for Comcast Corporation [CMCSA]. The present Moving Average for the last 50 days of trading for this stock 33.87, while it was recorded at 34.96 for the last single week of trading, and 38.26 for the last 200 days.

Comcast Corporation [CMCSA]: Deeper insight into the fundamentals

Comcast Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Earnings analysis for Comcast Corporation [CMCSA]

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 CMCSA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Comcast Corporation go to 8.91%.

Insider trade positions for Comcast Corporation [CMCSA]

There are presently around $125,298 million, or 85.60% of CMCSA stock, in the hands of institutional investors. The top three institutional holders of CMCSA stocks are: VANGUARD GROUP INC with ownership of 405,068,330, which is approximately 0.743% of the company’s market cap and around 0.71% of the total institutional ownership; BLACKROCK INC., holding 317,754,099 shares of the stock with an approximate value of $11.11 billion in CMCSA stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $7.18 billion in CMCSA stock with ownership of nearly -0.945% of the company’s market capitalization.

961 institutional holders increased their position in Comcast Corporation [NASDAQ:CMCSA] by around 136,286,951 shares. Additionally, 1,173 investors decreased positions by around 205,774,618 shares, while 211 investors held positions by with 3,240,952,101 shares. The mentioned changes placed institutional holdings at 3,583,013,670 shares, according to the latest SEC report filing. CMCSA stock had 99 new institutional investments in for a total of 21,733,428 shares, while 246 institutional investors sold positions of 24,693,352 shares during the same period.

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