Market Analysts see Prologis Inc [PLD] gaining to $148. Time to buy?

Prologis Inc [NYSE: PLD] traded at a low on Thursday, posting a -0.47 loss after which it closed the day’ session at $126.26. The company report on January 17, 2024 at 8:00 AM that Prologis Reports Fourth Quarter and Full Year 2023 Results.

Fourth consecutive year of double-digit earnings growth; expects strong 2024.

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Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today reported fourth quarter results for 2023.

The results of the trading session contributed to over 4062859 shares changing hands. Over the past one week, the price volatility of Prologis Inc stands at 2.18% while the volatility over the past one month is 1.99%.

The market cap for PLD stock reached $117.75 billion, with 923.14 million shares outstanding and 919.35 million shares in the current float. Compared to the average trading volume of 3.72M shares, PLD reached a trading volume of 4062859 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Prologis Inc [PLD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLD shares is $140.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLD stock is a recommendation set at 1.35. 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 Prologis Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 18, 2023.

The Average True Range (ATR) for Prologis Inc is set at 2.89, with the Price to Sales ratio for PLD stock in the period of the last 12 months amounting to 14.68. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 0.57. Price to Free Cash Flow for PLD in the course of the last twelve months was 23.65.

How has PLD stock performed recently?

Prologis Inc [PLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.46. With this latest performance, PLD shares dropped by -5.96% in over the last four-week period, additionally plugging by 2.83% over the last 6 months – not to mention a rise of 3.99% 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 PLD stock in for the last two-week period is set at 44.68, with the RSI for the last a single of trading hit 34.18, and the three-weeks RSI is set at 50.24 for Prologis Inc [PLD]. The present Moving Average for the last 50 days of trading for this stock 121.80, while it was recorded at 129.19 for the last single week of trading, and 120.29 for the last 200 days.

Earnings analysis for Prologis Inc [PLD]

With the latest financial reports released by the company, Prologis Inc posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.70%. 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 PLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Prologis Inc go to -6.05%.

Insider trade positions for Prologis Inc [PLD]

The top three institutional holders of PLD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PLD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PLD stock with ownership which is approximately 5.8325%.