PJT Partners Shares Surpass Analyst Target, Prompting Investor Reevaluation
Recently, shares of PJT Partners Inc (Symbol: PJT) have risen above the average analyst 12-month target price of $142.75, trading at $143.51 per share. When stocks reach an analyst’s target, they typically have two options: downgrade the stock due to valuation concerns or raise their target price. Analyst reactions may also hinge on fundamental business developments driving the stock price upward; for instance, favorable news could warrant an increase in the target price.
Within the Zacks coverage universe, four different analysts have contributed to the average target for PJT Partners Inc. However, it’s important to note that this average represents a mathematical mean of differing opinions. One analyst has set a lower target of $111.00, while another has a significantly higher target of $177.00. The standard deviation among these targets stands at $29.147.
The primary purpose of examining the average PJT price target is to harness a “wisdom of crowds” approach, combining insights from various analysts rather than relying on a single expert’s opinion. With PJT now exceeding that average target price of $142.75 per share, investors are encouraged to reassess the company’s prospects. Is $142.75 merely a stepping stone to an even higher target, or has the valuation become overstretched, suggesting it could be time to take some profits? The table below outlines the current views from analysts covering PJT Partners Inc:
| Recent PJT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 0 | 0 | 0 | 0 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 5 | 5 | 5 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 3.33 | 3.33 | 3.33 | 3.33 |
The average rating shown in the last row of the table ranges from 1 (Strong Buy) to 5 (Strong Sell). This article utilized data provided by Zacks Investment Research via Quandl.com.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
