Buy, Sell? What To Make Of It All? CenturyLink, Inc. (CTL), Veeva Systems Inc. (VEEV) – The RNS Daily

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CenturyLink, Inc. (NYSE:CTL) sank -4.47% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -29.79% and is now down by -20.99% since start of this year. A look at its monthly performance shows that the stock has recorded a -0.99% fall over the past 30 days. Its equity price dipped by -26.2% over the past three months which led to its overall six-month decrease to stand at -40.57%.

The shares of CenturyLink, Inc. (CTL) dropped by -50.54% or -$12.23 from its last recorded high of $24.2 which it attained on August 21 to close at $11.97 per share. Over the past 52 weeks, the shares of CenturyLink, Inc. has been trading as low as $11.52 before witnessing a massive surge by 3.91% or $0.45. This price movement has led to the CTL stock receiving more attention and has become one to watch out for. It dipped by -1.24% on Monday and this got the market worried. The stock’s beta now stands at 0.77 and when compared to its 200-day moving average and its 50-day moving average, CTL price stands -32.53% below and -6.92% below respectively. Its average daily volatility for this week is 2.34% which is more than the 2.26% recorded over the past month.

Experts from research firms are bullish about the near-term performance of CenturyLink, Inc. with most of them predicting a $14.07 price target on a short-term (12 months) basis. The average price target by the analysts will see a 17.54% rise in the stock and would lead to CTL’s market cap to surge to $15.05B. The stock has been rated an average 3.2, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 16 analysts that track CenturyLink, Inc. (NYSE:CTL) and find out that 10 of them rated it as a Hold. 2 of the 6 analysts rated it as a Buy or a Strong Buy while 4 advised investors to desist from buying the stock or sell it if they already possess it.

A look at CTL technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 42.87 point. Its trading volume has lost -4965197 shares compared to readings over the past three months as it recently exchanged 11384803 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 16350000 shares, and this is 0.7 times the normal volume.

The price of Veeva Systems Inc. (NYSE:VEEV) currently stands at $132.63 after it went down by $-2.12 or -1.57% and has found a strong support at $131.38 a share. If the VEEV price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $130.13 mark would also be bad for the stock as it means that the stock would plunge by 1.88% from its current position. However, if the stock price is able to trade above the resistance point around $134.55, then it could likely surge higher to try and break the upward resistance which stands at $136.48 a share. Its average daily volatility over the past one month stands at 2.7%. The stock has plunged by 0.43% from its 52-weeks high of $132.055 which it reached on Dec. 04, 2019. In general, it is 48.65% above its 52-weeks lowest point which stands at $68.11 and this setback was observed on Apr. 25, 2018.

Analysts have predicted a price target for Veeva Systems Inc. (VEEV) for 1 year and it stands at an average $129.19/share. This means that it would likely increase by -2.59% from its current position. The current price of the stock has been moving between $132.055 and $135.2271. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $103. On the other hand, one analyst is super bullish about the price, setting a target as high as $160.

The VEEV stock Stochastic Oscillator (%D) is at 83.13%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 22.33 which compares to the 8.37 recorded by the industry or the 8.39 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 59.42, which is lower than the 84.69 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 58.6% over the past five years.

Analysts view Veeva Systems Inc. (NYSE:VEEV) as a Hold, with 2.1 consensus rating. Reuters surveyed 18 analysts that follow VEEV and found that 7 of those analysts rated the stock as a Hold. The remaining 11 were divided, with 11 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Veeva Systems Inc. (VEEV) shares or sell it if they already own it.

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