why Blackstone Inc. [BX] is a Good Choice for Investors After New Price Target of $101.27

Blackstone Inc. [NYSE: BX] price plunged by -0.80 percent to reach at -$0.72. The company report on February 2, 2023 that Blackstone to Present at the Bank of America Securities Financial Services Conference 2023.

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Blackstone (NYSE:BX) announced today that Stephen Schwarzman, Chairman, CEO and Co-Founder, is scheduled to present at the Bank of America Securities 2023 Financial Services Conference on Thursday, February 16, 2023 at 12:30pm ET.

A live webcast of the presentation will be available on the Shareholders section of Blackstone’s website at http://ir.blackstone.com. For those unable to listen to the live webcast, a replay will be available on Blackstone’s website shortly after the event.

A sum of 4108567 shares traded at recent session while its average daily volume was at 5.13M shares. Blackstone Inc. shares reached a high of $89.52 and dropped to a low of $86.62 until finishing in the latest session at $89.06.

The one-year BX stock forecast points to a potential upside of 12.06. The average equity rating for BX stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Blackstone Inc. [BX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $101.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX 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.

JP Morgan have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 24, 2023. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $88 to $95. The new note on the price target was released on January 11, 2023, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another drop from $98 to $90, while Barclays kept a Equal Weight rating on BX stock. On November 22, 2022, analysts decreased their price target for BX shares from 85.50 to 67.50.

The Average True Range (ATR) for Blackstone Inc. is set at 3.01, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 13.05. The Price to Book ratio for the last quarter was 8.71, with the Price to Cash per share for the same quarter was set at 2.86.

BX Stock Performance Analysis:

Blackstone Inc. [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.15. With this latest performance, BX shares dropped by -7.19% in over the last four-week period, additionally sinking by -6.48% over the last 6 months – not to mention a drop of -27.74% 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 BX stock in for the last two-week period is set at 44.70, with the RSI for the last a single of trading hit 38.02, and the three-weeks RSI is set at 48.15 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 86.74, while it was recorded at 89.73 for the last single week of trading, and 93.39 for the last 200 days.

Insight into Blackstone Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Blackstone Inc. [BX] shares currently have an operating margin of +37.66 and a Gross Margin at +98.39. Blackstone Inc.’s Net Margin is presently recorded at +17.52.

Return on Equity for this stock inclined to 20.47, with Return on Assets sitting at 4.17.

BX 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 BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc. go to 10.34%.

Blackstone Inc. [BX] Insider Position Details

There are presently around $40,789 million, or 64.50% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 46,994,275, which is approximately 1.414% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 38,894,983 shares of the stock with an approximate value of $3.46 billion in BX stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.71 billion in BX stock with ownership of nearly 80.76% of the company’s market capitalization.

Positions in Blackstone Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 754 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 47,908,532 shares. Additionally, 783 investors decreased positions by around 36,743,294 shares, while 191 investors held positions by with 373,337,946 shares. The mentioned changes placed institutional holdings at 457,989,772 shares, according to the latest SEC report filing. BX stock had 185 new institutional investments in for a total of 4,701,846 shares, while 143 institutional investors sold positions of 6,688,296 shares during the same period.


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