Barrett Business Services Surpasses Analyst Price Target – What’s Next?

Shares of Barrett Business Services, Inc. (Symbol: BBSI) have recently climbed above the average analyst 12-month target price, trading at $41.88 per share. This target, set at $41.67, prompts analysts to either adjust their targets or reassess the stock’s valuation. The future price action may hinge on recent developments within the company, hinting at whether it’s time for analysts to increase their targets further.

Within the Zacks coverage universe, there are three analysts contributing to Barrett Business Services’ average price target. The opinions vary, with one analyst suggesting a target of $35.00, signaling a more cautious outlook, while another sees potential for the stock to reach $45.00. The standard deviation among the forecasts is $5.773, highlighting the differences in analyst sentiment.

The value of looking at the average price target lies in understanding the “wisdom of crowds.” By combining insights from multiple analysts, investors can gauge broader sentiment rather than relying solely on one individual’s assessment. As BBSI trades above the average target price, this could signal an opportunity for investors to reassess their positions. They must decide whether the stock is headed for an even higher target or whether the current valuation suggests it’s time to consider selling some shares.

The average rating in the table above uses a scale from 1 to 5, where 1 indicates a Strong Buy and 5 suggests a Strong Sell. This data has been provided by Zacks Investment Research via Quandl.com. To stay updated, explore the latest Zacks research report on BBSI — available for free.

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