Wall Street Analyst Initiated Corteva Inc. [CTVA]. What else is Wall St. saying

Corteva Inc. [NYSE: CTVA] closed the trading session at $62.97 on 03/07/23. The day’s price range saw the stock hit a low of $61.83, while the highest price level was $63.01. The company report on March 7, 2023 that Corteva Agriscience Announces Commercial Launch of Vorceed™ Enlist® Corn Products.

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The Next Generation of Corn Rootworm Trait Technology Will Launch Through Exclusive Corteva Horizon Network Program.

Corteva Agriscience today announced plans for the commercial launch of Vorceed™ Enlist® corn products. U.S. farmers will access Vorceed Enlist corn technology across Pioneer® seeds, Dairyland Seed® and Brevant® seeds through the exclusive Corteva Horizon Network in areas of high corn rootworm (CRW) pressure in the Corn Belt.

The stocks have a year to date performance of 7.13 percent and weekly performance of 1.09 percent. The stock has been moved at 2.82 percent over the last six months. The stock has performed 2.39 percent around the most recent 30 days and changed -6.45 percent over the most recent 3-months.

If compared to the average trading volume of 3.28M shares, CTVA reached to a volume of 4239262 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 1.43, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 4.66.

CTVA stock trade performance evaluation

Corteva Inc. [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.09. With this latest performance, CTVA shares gained by 2.39% in over the last four-week period, additionally plugging by 2.82% over the last 6 months – not to mention a rise of 22.32% 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 53.20, with the RSI for the last a single of trading hit 54.31, and the three-weeks RSI is set at 52.36 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 61.78, while it was recorded at 63.12 for the last single week of trading, and 60.71 for the last 200 days.

Corteva Inc. [CTVA]: An insightful look at the core fundamentals

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

Earnings per share (EPS) analysis for Corteva Inc. [CTVA] stock

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%.

Corteva Inc. [CTVA]: Insider Ownership positions

There are presently around $36,580 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 $3.79 billion in CTVA stocks shares; and STATE STREET CORP, currently with $2.13 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 611 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 36,506,638 shares. Additionally, 523 investors decreased positions by around 37,484,764 shares, while 262 investors held positions by with 506,916,216 shares. The mentioned changes placed institutional holdings at 580,907,618 shares, according to the latest SEC report filing. CTVA stock had 175 new institutional investments in for a total of 8,180,325 shares, while 80 institutional investors sold positions of 1,720,004 shares during the same period.


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