ShockWave Medical Hits Analysts Price Target


IIn recent trades, shares of ShockWave Medical Inc (Ticker: SWAV) exceeded analysts’ 12-month average target price of $211.83, changing hands at $212.52/share. When a stock reaches the target that an analyst has set, the latter logically has two ways of reacting: downgrade on the valuation, or readjust his target price to a higher level. The reaction of analysts may also depend on fundamental business developments that may be responsible for the stock price rally – if things are looking up for the company, it may be time for that target price to be raised.

There are 6 different analyst targets in Zacks coverage universe that contribute to this average for ShockWave Medical Inc, but the average is just that – a mathematical average. Some analysts have below average targets, including one looking for a price of $190.00. And then, on the other side of the spectrum, an analyst has a target as high as $245.00. The standard deviation is $22.426.

But the whole reason to watch the Medium The SWAV award goal is first and foremost to tap into a “wisdom of the crowds” effort, bringing together the contributions of all the individual minds that have contributed to the ultimate number, as opposed to what a single particular expert thinks. And so, with SWAV surpassing that average target price of $211.83/share, SWAV investors received a good signal to spend time evaluating the company and deciding for themselves: is 211, $83 is just one stop on the way to a par higher target, or has the valuation been stretched to the point that it’s time to think about removing some chips from the table? Below is a chart showing the current thinking of analysts who cover ShockWave Medical Inc:

Recent breakdown of SWAV analyst ratings
» Running 1 month ago 2 months ago 3 months ago
Strong buy odds: 5 5 4 4
Purchase notice: 0 0 0 0
Hold Notes: 2 2 2 2
Sale Ratings: 0 0 0 0
Strong selling odds: 0 0 0 0
Average grade: 1.57 1.57 1.67 1.67

The average rating shown in the last row of the table above ranges from 1 to 5, where 1 is strong buying and 5 is strong selling. This article used data provided by Zacks Investment Research via Quandl.com. Get Zacks latest research report on SWAV – FREE.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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