The stock of Williams-Sonoma, Inc. (NYSE:WSM) is now priced at $88.06 and the shares are 0.3 points up or 0.34% higher compared to its previous closing price of $87.76. The stock had 1.294 million contracts set over the past session. WSM shares’ daily volume is compared to its average trading volume at 1.241 million shares. However, it has a float of 76.84 million and although its performance was -7.66% over the week, it’s one to watch. Analysts have given the WSM stock a yearly average price target of $92.88 per share. It means the stock’s upside potential is 5.47% with the WSM share price recently placing at $87.44 to $89.01. However, some brokerage firms have priced the stock below the average, including one that has called $60.
The shorts are running away from the Williams-Sonoma, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WSM shares have declined. Short interest in the stock represents just 8.24% of its float, but the volume has dropped by 0.
In the last trading session, Williams-Sonoma, Inc. (NYSE:WSM) dropped by -$7.3 over the week and gained $0.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $101.73. The stock recorded its established 52-week high on 08/24/20.
Since 03/18/20, the stock has traded to a low of $26.01 at 238.56%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.66. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Williams-Sonoma, Inc.’s two-week RSI is 42.89. This suggests that the stock is neutral at the moment and that WSM shares’ price movement remains stable. The stochastic readings are equally revealing at 4.18% meaning the WSM share price is currently in overbought territory.
The technical chart shows that the WSM stock will likely settle at between $88.9 and $89.74 per share. However, if the stock dips below $87.33, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $86.6.
Currently, the stock is trading in the red of MACD, with a reading of -5.37. 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 Telsey Advisory Group though raised target price of WSM stock from $110 to $120 but maintained Outperform recommendation in their August 27 review. Gordon Haskett analysts upgraded their recommendation of the stock from Accumulate to Buy while keeping its target price at $110 in a flash note released to investors on August 21. Wells Fargo analysts see the stock as Equal Weight when the analysts initiated the share price coverage on June 18, placing it at $90.
The average rating for the WSM equity is 2.79 and is currently gathering a bullish momentum. Of 23 analysts tracking Williams-Sonoma, Inc. polled by Reuters, 13 rated WSM as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the WSM stock price is 14.88X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 16.9 below the group’s average of 52.5. Williams-Sonoma, Inc. has its P/E ratio at 5.1, which means that the stock is currently trading at a discount relative to the 7.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Williams-Sonoma, Inc. (NYSE:WSM) will increase by about 5.3%, which will see them reach $1570 million. The company’s full-year revenues are, however, expected to increase by about 5.59%, up from $5900 million to $6230 million. WSM’s expected adjusted earnings should surge almost 48.04% to end up at $1.51 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 31.61% to record $6.37/share.