Veracyte Inc Surpasses Analysts’ 12-Month Target Price, Sparking Investor Interest
Recently, shares of Veracyte Inc (Symbol: VCYT) have climbed above the average analyst 12-month target price of $42.33, trading at $42.84 per share. When a stock reaches the target set by an analyst, they typically have two options: either downgrade due to valuation or adjust their target price upward. The response may also rely on favorable business developments that push the stock price higher. If the company is thriving, it might warrant a revised target price.
Analysts within the Zacks coverage universe provide 9 different price targets for Veracyte Inc. While the average is a useful benchmark, it is important to remember that it represents a mathematical mean. Among these analysts, some have suggested lower targets, such as $28.00, while others propose targets as high as $50.00. The standard deviation among these targets is $6.782.
The reason for examining the average VCYT price target in the first place is to leverage the collective insights from multiple analysts rather than relying on a single expert’s viewpoint. As VCYT surpasses the average target price of $42.33 per share, investors may see this as a prompt to reevaluate the company and determine whether this target represents a stepping stone toward an even higher price, or if the current valuation warrants caution and perhaps selling off part of their holdings. Below is a breakdown of the current analyst perspectives on Veracyte Inc:
| Recent VCYT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 8 | 7 | 5 | 5 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 2 | 2 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 1.69 | 1.75 | 1.92 | 1.92 |
The average rating in this table ranges from 1 to 5, where 1 is a Strong Buy and 5 is a Strong Sell. This article utilized data from Zacks Investment Research via Quandl.com. Access the latest Zacks research report on VCYT — 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.
