Signify Health Inc. (NYSE:SGFY) shares, rose in value on Thursday, August 04, with the stock price up by 3.47% to the previous day’s close as strong demand from buyers drove the stock to $19.11.
Actively observing the price movement in the recent trading, the stock is buoying the session at $18.47, falling within a range of $17.71 and $19.00. The PE ratio was 104.35 over 12-month period. Referring to stock’s 52-week performance, its high was $28.68, and the low was $10.70. On the whole, SGFY has fluctuated by 16.53% over the past month.
With the market capitalization of Signify Health Inc. currently standing at about $4.39 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 03, 2022.
Analysts have estimated the company’s revenue for the quarter at $247.08 million, with a low estimate of $234.96 million and a high estimate of $252.58 million. According to the average forecast, sales growth in current quarter could jump up 34.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $957.57 million, representing an increase of 23.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SGFY’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
12 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 2 analyst(s), 8 recommend it as a Buy and 2 called the SGFY stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 2.36, with the price of SGFY currently trading nearly 15.52% and 30.01% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.60, while the 7-day volatility ratio is showing 7.16% which for the 30-day chart, stands at 6.26%. Furthermore, Signify Health Inc. (SGFY)’s average true range (ATR) is 1.03. The company’s stock has been forecasted to trade at an average price of $22.36 over the course of the next 52 weeks, with a low of $14.00 and a high of $34.00. Based on these price targets, the low is 26.74% off current price, whereas the price has to move -77.92% to reach the yearly target high. Additionally, analysts’ median price of $22.00 is likely to be welcomed by investors because it represents a decrease of -15.12% from the current levels.
A comparison of Signify Health Inc. (SGFY) with its peers suggests the former has fared considerably weaker in the market. SGFY showed an intraday change of 3.47% in today’s session so far, and over the past year, it shrunk by -30.59%%. In comparison, Microsoft Corporation (MSFT) has moved lower at -0.20% today and is down -1.62% over the past 12 months. On the other hand, the price of UnitedHealth Group Incorporated (UNH) has fallen -0.99% today. The stock, however, is off 28.15% from where it was a year ago. The PE ratio stands at 104.35 for Signify Health Inc., compared to 29.29 for Microsoft Corporation, and 28.24 for UnitedHealth Group Incorporated. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.21%. Meanwhile, the Dow Jones Industrial Slipped by -0.24%.
Data on historical trading for Signify Health Inc. (NYSE:SGFY) indicates that the trading volumes over the past 10 days have averaged 1.43 million and over the past 3 months, they’ve averaged 1.72 million. According to company’s latest data on outstanding shares, there are 172.76 million shares outstanding.
Nearly 5.10% of Signify Health Inc.’s shares belong to company insiders and institutional investors own 86.03% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.95 million shares as on Jul 14, 2022, resulting in a short ratio of 4.83. According to the data, the short interest in Signify Health Inc. (SGFY) stood at 5.07% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 8.35 million. The stock has risen by 29.89% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SGFY stock heading into the next quarter.