Pinnacle Financial Partners Stock Surpasses Analyst Target: What Lies Ahead?
In recent trading, shares of Pinnacle Financial Partners Inc (Symbol: PNFP) have crossed above the average analyst 12-month target price of $106.18, changing hands for $106.40/share. When a stock reaches the target price set by an analyst, he or she has two main options: downgrade the stock due to valuation concerns or raise the target price. Analysts’ reactions often depend on the company’s recent performance and prospects — if the outlook is positive, it may be wise to increase the target price.
Currently, there are 11 analysts contributing to the average target for Pinnacle Financial Partners Inc. While the average is a useful figure, it’s essential to note that individual targets vary. One analyst predicts a price of $97.00, while another sees potential for a high of $120.00. The standard deviation among these estimates stands at $7.743, showcasing the range of opinions on the stock’s future.
The average price target reflects a “wisdom of crowds” approach, aggregating the insights from multiple analysts rather than relying on a single expert’s view. With PNFP now trading above the average target, investors have a critical decision to make: Is the target price of $106.18 a stepping stone toward higher earnings, or should investors consider selling some shares due to stretched valuations? Below, we provide a summary of current analyst ratings for Pinnacle Financial Partners Inc:
| Recent PNFP Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 6 | 7 | 7 | 7 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 5 | 5 | 5 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.92 | 1.85 | 1.85 | 1.85 |
The average rating provided in the last row ranges from 1 to 5, where 1 is Strong Buy and 5 is Strong Sell. This article utilized data from Zacks Investment Research via Quandl.com. For additional insights, consider obtaining the latest Zacks research report on PNFP — FREE.
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Additional Resources:
• PPR Videos
• Institutional Holders of PXQ
• Institutional Holders of AMETEK
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
