Wells Fargo lifts Corteva Inc. [CTVA] price estimate. Who else is bullish?

Corteva Inc. [NYSE: CTVA] gained 0.29% on the last trading session, reaching $62.29 price per share at the time. The company report on February 22, 2023 that Corteva Agriscience to Participate in the Bank of America Securities 2023 Global Agriculture & Materials Conference.

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Corteva, Inc. (NYSE: CTVA) announces that Chief Executive Officer, Chuck Magro, will speak at the Bank of America Securities 2023 Global Agriculture & Materials Conference at 8:50 a.m. Eastern Time on Wednesday, March 1, 2023.

Remarks will be webcast live. Registration for the webcast can be accessed through the Corteva Investor Relations website. A replay of the presentation will be available 24-hours after the presentation ends and will be accessible until June 2, 2023.

Corteva Inc. represents 714.80 million in outstanding shares, while the company has a total market value of $44.63 billion with the latest information. CTVA stock price has been found in the range of $61.41 to $62.47.

If compared to the average trading volume of 3.17M shares, CTVA reached a trading volume of 6823843 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 Corteva Inc. [CTVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTVA shares is $72.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTVA stock is a recommendation set at 2.20. 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 Corteva Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $64 to $68. The new note on the price target was released on January 11, 2023, representing the official price target for Corteva Inc. stock. Previously, the target price had yet another raise from $70 to $73, while UBS kept a Neutral rating on CTVA stock. On November 15, 2022, analysts increased their price target for CTVA shares from 70 to 71.

The Average True Range (ATR) for Corteva Inc. is set at 1.53, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.56. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 4.63.

Trading performance analysis for CTVA stock

Corteva Inc. [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.71. With this latest performance, CTVA shares dropped by -2.41% in over the last four-week period, additionally sinking by -0.05% over the last 6 months – not to mention a rise of 20.16% 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 CTVA stock in for the last two-week period is set at 51.07, with the RSI for the last a single of trading hit 51.98, and the three-weeks RSI is set at 50.63 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 61.40, while it was recorded at 62.00 for the last single week of trading, and 60.53 for the last 200 days.

Corteva Inc. [CTVA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Corteva Inc. [CTVA] shares currently have an operating margin of +10.84 and a Gross Margin at +35.98. Corteva Inc.’s Net Margin is presently recorded at +6.90.

Return on Equity for this stock inclined to 4.75, with Return on Assets sitting at 2.84.

Corteva Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Corteva Inc. [CTVA]: An earnings per share (EPS) analysis

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 CTVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corteva Inc. go to 13.49%.

An analysis of insider ownership at Corteva Inc. [CTVA]

There are presently around $36,179 million, or 83.30% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 82,226,470, which is approximately 0.208% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 60,187,299 shares of the stock with an approximate value of $3.75 billion in CTVA stocks shares; and STATE STREET CORP, currently with $2.1 billion in CTVA stock with ownership of nearly -1.108% of the company’s market capitalization.

Positions in Corteva Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 606 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 36,416,355 shares. Additionally, 524 investors decreased positions by around 37,487,145 shares, while 262 investors held positions by with 506,914,244 shares. The mentioned changes placed institutional holdings at 580,817,744 shares, according to the latest SEC report filing. CTVA stock had 171 new institutional investments in for a total of 8,092,376 shares, while 80 institutional investors sold positions of 1,720,004 shares during the same period.


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