Stagwell (NASDAQ:STGW) Shares Gap Up – Should You Buy?

Shares of Stagwell Inc. (NASDAQ:STGW) gapped up prior to trading on Friday . The stock had previously closed at $6.15, but opened at $6.60. Stagwell shares last traded at $6.70, with a volume of 116,988 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STGW shares. Benchmark upped their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Stagwell in a research note on Friday, February 14th. Finally, Wells Fargo & Company raised shares of Stagwell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $9.00 in a report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.58.

Stagwell Trading Up 7.6 %

The stock has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $6.86. The firm has a market cap of $1.74 billion, a P/E ratio of 20.70 and a beta of 1.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in Stagwell in the fourth quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stagwell in the fourth quarter valued at about $69,000. BNP Paribas Financial Markets purchased a new position in shares of Stagwell in the fourth quarter worth about $75,000. Paloma Partners Management Co acquired a new stake in shares of Stagwell during the third quarter worth about $77,000. Finally, Squarepoint Ops LLC purchased a new stake in Stagwell in the fourth quarter valued at approximately $96,000. Institutional investors own 35.61% of the company’s stock.

About Stagwell

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.