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Analyst Needham Price Target And Rating For Arm Holdings Limited (ARM)

Arm Holdings Limited (NASDAQ:ARM) concluded the trading at $60.75 on Friday, September 15 with a fall of -4.47% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $63.59 with its price kept floating in the range of $60.75 and $69.00 on the day. Considering stock’s 52-week price range provides that ARM hit a high price of $66.28 and saw its price falling to a low level of $55.54 during that period.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement.

According to ratings assigned by 2 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 1 of them are recommending Arm Holdings Limited (ARM) as a Hold, while 1 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 0, whereas 0 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the ARM stock which is currently positioned at 0. It further provides that stock’s current price level is -4.47% away from its 20-day simple moving average and is -4.47% off its SMA50. Average true range or ATR is currently at 9.49. In predicting price targets of as low as $59.00 and as high as $59.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $59.00. Stock’s current price level is 2.88% above from estimated low price target while it is 2.88% below the estimated high; and even if the ARM’s share succeeded to reach the median price of $59.00, then the outlook of 2.88% could come to the excitement of the investors.

Having a second look at Arm Holdings Limited (NASDAQ:ARM) provides that stock’s average daily trading volume for 3 months was 130.53 million, while it jumped to 102.36 million when we calculate an average volume for past 10 days.

Subtraction of -4.47% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.