The stock of Livongo Health, Inc. (NASDAQ:LVGO) is now priced at $132.96 and the shares are -3.72 points down or -2.72% lower compared to its previous closing price of $136.68. The stock had 1.774 million contracts set over the past session. LVGO shares’ daily volume is compared to its average trading volume at 5.057 million shares. However, it has a float of 59.3 million and although its performance was -5.27% over the week, it’s one to watch. Analysts have given the LVGO stock a yearly average price target of $127.41 per share. It means the stock’s downside potential is -4.17% with the LVGO share price recently placing at $131.24 to $138. However, some brokerage firms have priced the stock below the average, including one that has called $55.
The shorts are running away from the Livongo Health, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the LVGO shares have declined. Short interest in the stock represents just 15.69% of its float, but the volume has dropped by -253097. The volume of shorted shares dropped to 9.306 million from 9.559 million shares over the last two weeks. The average intraday trading volume has been 8.531 million shares, which means that days to cover moved to roughly 1.090781.
In the last trading session, Livongo Health, Inc. (NASDAQ:LVGO) dropped by -$7.39 over the week and gained $5.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $150. The stock recorded its established 52-week high on 08/05/20.
Since 10/02/19, the stock has traded to a low of $15.12 at 779.37%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Livongo Health, Inc.’s two-week RSI is 59.12. This suggests that the stock is neutral at the moment and that LVGO shares’ price movement remains stable. The stochastic readings are equally revealing at 66.03% meaning the LVGO share price is currently in neutral territory.
The technical chart shows that the LVGO stock will likely settle at between $136.89 and $140.83 per share. However, if the stock dips below $130.13, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $127.31.
Currently, the stock is trading in the red of MACD, with a reading of -0.84. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Stifel cut their recommendation for LVGO from Buy to Hold in August 24 review while maintai their target price of $137. The Benchmark Company analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on August 07. Needham seeing the stock struggling downgraded it from Buy to Hold on August 06.
The average rating for the LVGO equity is 1.83 and is currently gathering a bullish momentum. Of 17 analysts tracking Livongo Health, Inc. polled by Reuters, 5 rated LVGO as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the LVGO stock price is 328.3X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 46.1. Livongo Health, Inc. has its P/E ratio at 22.8, which means that the stock is currently trading at a premium relative to the 4.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Livongo Health, Inc. (NASDAQ:LVGO) will decrease by about -99.89%, which will see them reach $98.34 million. The company’s full-year revenues are, however, expected to increase by about 110.63%, up from $170 million to $359 million. LVGO’s expected adjusted earnings should drop almost -200% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -156.41% to record $0.22/share.