Skyward Specialty Insurance Surpasses Analyst Price Target: What’s Next?
In recent trading, shares of Skyward Specialty Insurance Group Inc (Symbol: SKWD) have crossed above the average analyst 12-month target price of $46.89, changing hands for $48.00/share. When a stock reaches the target set by analysts, they generally have two options: downgrade on valuation or raise their target price. Decisions can also depend on the company’s recent performance; if things are looking better for the business, analysts may opt to increase their forecasts.
Investment Community Reacts to Price Surge
There are nine different analyst targets within the Zacks coverage universe contributing to the average for Skyward Specialty Insurance Group Inc. However, this average represents a mathematical midpoint. Some analysts predict lower targets, such as one expecting the price to hit $43.00, while others offer optimistic forecasts, with one analyst setting a target as high as $50.00. The standard deviation among targets is $2.42.
The rationale behind examining the average target is to leverage a “wisdom of crowds” approach, combining insights from various analysts rather than relying on a single expert opinion. With SKWD now surpassing the average target price of $46.89/share, investors are encouraged to assess the company’s prospects. They must decide whether $46.89 is merely a milestone towards an even higher target or if the valuation has become stretched, prompting concerns about potential profit-taking. Below is a table displaying the current analyst perspectives for Skyward Specialty Insurance Group Inc:
| Recent SKWD Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 7 | 7 | 7 | 6 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.64 | 1.64 | 1.5 | 1.56 |
The average rating shown in the last row of the table ranges from 1 to 5, where 1 is Strong Buy and 5 is Strong Sell. This information was derived from data provided by Zacks Investment Research via Quandl.com. You can access the latest Zacks research report on SKWD for 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.
