Today’s big question for investors is, “what’s going on with QUALCOMM Incorporated (NASDAQ:QCOM) stock? Its price is jumping 1.93 points, trading at $76.9 levels, and is up 2.57% from its previous close of $74.97. The shares seem to have an active trading volume day with a reported 2648194 contracts so far this session. QCOM shares had a relatively better volume day versus average trading capacity of 9.03 million shares, but with a 1.21 billion float and a -1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QCOM stock indicates that the average analyst price target is $78.99 per share. This means the stock has a potential increase of 2.72% from where the QCOM share price has been trading recently which is between $74.17 and $75.9656. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $41.68. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $135.
During the recent trading session for QUALCOMM Incorporated (NASDAQ:QCOM), the company witnessed their stock drop by $-0.63 over a week and tumble down $-1.55 from the price 20 days ago. When compared to their established 52-week high of $90.34, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/05/19. The recent low of $49.1 stood for a -14.88% since 01/31/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.59 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for QCOM is set at $80, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for QUALCOMM Incorporated, the two-week RSI stands at 53.67. This figure suggests that QCOM stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current QCOM readings is similarly very revealing as it has a stochastic reading of 46.45% at this stage. This figure means that QCOM share price today is being neutral.
Technical chart claims that QUALCOMM Incorporated (QCOM) would settle between $75.9/share to $76.83/share level. However, if the stock price goes below the $74.1 mark, then the market for QUALCOMM Incorporated becomes much weaker. If that happens, the stock price might even plunge as low as $73.24 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at RBC Capital Mkts, assumed coverage of QCOM assigning Sector Perform rating, according to their opinion released on July 22. Barclays analysts have lowered their rating of QUALCOMM Incorporated (NASDAQ:QCOM) stock from Overweight to Equal Weight in a separate flash note issued to investors on July 18. Analysts at Cowen are sticking to their Outperform stance. However, on May 23, they lifted price target for these shares to $80 from $100.
QCOM equity has an average rating of 2.38, with the figure leaning towards a bullish end. 25 analysts who tracked the company were contacted by Reuters. Amongst them, 12 rated the stock as a hold while the remaining 13 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 12 analysts rated QUALCOMM Incorporated (NASDAQ:QCOM) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, QCOM stock price is currently trading at 17.79X forward 12-month Consensus EPS estimates, and its P/E ratio is 26.2 while for the average stock in the same group, the multiple is 22.5. QUALCOMM Incorporated current P/B ratio of 16.7 means it is trading at a premium against its industry’s 4.6.
QUALCOMM Incorporated (QCOM)’s current-quarter revenues are projected to climb by nearly -19.4% to hit $4.7 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -15.1% from $22.73 billion to a noteworthy $19.3 billion. At the other end of the current quarter income statement, QUALCOMM Incorporated is expected to see its adjusted earnings surge by roughly -22.2% to hit $0.7 per share. For the fiscal year, QCOM’s earnings are projected to climb by roughly -6% to hit $3.47 per share.