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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Abivax SA Sponsored ADR (ABVX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Abivax SA Sponsored ADR is a member of our Medical group, which includes 1019 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Abivax SA Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABVX's full-year earnings has moved 6.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ABVX has moved about 11.8% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 11.1% on a year-to-date basis. This means that Abivax SA Sponsored ADR is performing better than its sector in terms of year-to-date returns.
PetIQ (PETQ) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 55.2%.
The consensus estimate for PetIQ's current year EPS has increased 1.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Abivax SA Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, which includes 497 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 0.9% this year, meaning that ABVX is performing better in terms of year-to-date returns.
In contrast, PetIQ falls under the Medical - Products industry. Currently, this industry has 88 stocks and is ranked #75. Since the beginning of the year, the industry has moved +14.9%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Abivax SA Sponsored ADR and PetIQ as they could maintain their solid performance.
Zacks Investment Research
Shares of Abivax SA Sponsored ADR (ABVX) have gained 6.9% over the past four weeks to close the last trading session at $11.75, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $34.50 indicates a potential upside of 193.6%.
The mean estimate comprises six short-term price targets with a standard deviation of $13.59. While the lowest estimate of $16 indicates a 36.2% increase from the current price level, the most optimistic analyst expects the stock to surge 325.5% to reach $50. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in ABVX. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Here's What You May Not Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in ABVX
There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 6.2%, as two estimates have moved higher compared to no negative revision.
Moreover, ABVX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Therefore, while the consensus price target may not be a reliable indicator of how much ABVX could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Investment Research
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
PetIQ (PETQ) is a stock many investors are watching right now. PETQ is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 18.39, which compares to its industry's average of 22.02. Over the last 12 months, PETQ's Forward P/E has been as high as 21.79 and as low as 11.85, with a median of 15.42.
Investors should also note that PETQ holds a PEG ratio of 1.90. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PETQ's industry has an average PEG of 2.17 right now. Over the last 12 months, PETQ's PEG has been as high as 2.72 and as low as 1.83, with a median of 2.05.
Another notable valuation metric for PETQ is its P/B ratio of 3.52. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.31. Over the past year, PETQ's P/B has been as high as 3.52 and as low as 1.99, with a median of 2.41.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. PETQ has a P/S ratio of 0.84. This compares to its industry's average P/S of 1.45.
Finally, investors will want to recognize that PETQ has a P/CF ratio of 17.44. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. PETQ's P/CF compares to its industry's average P/CF of 37.64. Over the past year, PETQ's P/CF has been as high as 17.45 and as low as 8.36, with a median of 10.33.
Value investors will likely look at more than just these metrics, but the above data helps show that PetIQ is likely undervalued currently. And when considering the strength of its earnings outlook, PETQ sticks out at as one of the market's strongest value stocks.
Zacks Investment Research
Have you been paying attention to shares of PetIQ (PETQ)? Shares have been on the move with the stock up 0.5% over the past month. The stock hit a new 52-week high of $30.77 in the previous session. PetIQ has gained 55.1% since the start of the year compared to the 10.7% move for the Zacks Medical sector and the 14.6% return for the Zacks Medical - Products industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 7, 2024, PetIQ reported EPS of $0.7 versus consensus estimate of $0.49 while it missed the consensus revenue estimate by 12.02%.
For the current fiscal year, PetIQ is expected to post earnings of $1.44 per share on $1.15 billion in revenues. This represents a 16.13% change in EPS on a 4.69% change in revenues. For the next fiscal year, the company is expected to earn $1.66 per share on $1.22 billion in revenues. This represents a year-over-year change of 15.51% and 5.5%, respectively.
Valuation Metrics
PetIQ may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
PetIQ has a Value Score of A. The stock's Growth and Momentum Scores are A and F, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 21.3X current fiscal year EPS estimates, which is not in-line with the peer industry average of 24.9X. On a trailing cash flow basis, the stock currently trades at 11.4X versus its peer group's average of 12X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, PetIQ currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if PetIQ meets the list of requirements. Thus, it seems as though PetIQ shares could still be poised for more gains ahead.
How Does PETQ Stack Up to the Competition?
Shares of PETQ have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Prestige Consumer Healthcare Inc. (PBH). PBH has a Zacks Rank of # 2 (Buy) and a Value Score of A, a Growth Score of D, and a Momentum Score of B.
Earnings were strong last quarter. Prestige Consumer Healthcare Inc. beat our consensus estimate by 4.65%, and for the current fiscal year, PBH is expected to post earnings of $4.42 per share on revenue of $1.13 billion.
Shares of Prestige Consumer Healthcare Inc. have gained 5.4% over the past month, and currently trade at a forward P/E of 16.08X and a P/CF of 14.28X.
The Medical - Products industry is in the top 31% of all the industries we have in our universe, so it looks like there are some nice tailwinds for PETQ and PBH, even beyond their own solid fundamental situation.
Zacks Investment Research
BALA CYNWYD, Pa., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Squarespace, Inc. (NYSE - SQSP)
Under the terms of the agreement, Squarespace will be acquired by Permira for $46.50 per share in cash representing a transaction value of approximately $7.2 billion. The investigation concerns whether the Squarespace Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/squarespace-inc-nyse-sqsp-2/.
Northway Financial, Inc. (OTCQB - NWYF)
Under the terms of the agreement, Northway will be acquired by Camden National Corporation (“Camden National”) (Nasdaq - CAC). Northway shareholders will receive 0.83 shares of Camden National common stock for each outstanding share of Northway common stock. Based on Camden National's closing stock price of $37.90 on September 9, 2024, the transaction is valued at approximately $86.6 million or $31.46 per share of Northway common stock. Upon completion of the transaction, Camden National shareholders will own approximately 86% of the combined company and Northway's shareholders will own approximately 14% of the combined company. The investigation concerns whether the Northway Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Camden National is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/northway-financial-inc-otcqb-nwyf/
Evans Bancorp, Inc. (NYSE American - EVBN)
Under the terms of the agreement, Evans Bancorp will be acquired by NBT Bancorp Inc. (“NBT”) (Nasdaq - NBTB). NBT will acquire 100% of the outstanding shares of Evans Bancorp in exchange for common shares of NBT. The exchange ratio will be fixed at 0.91 NBT shares for each share of Evans Bancorp, resulting in an aggregate transaction value of approximately $236 million based on NBT’s closing stock price of $46.28 on September 6, 2024. The investigation concerns whether the Evans Bancorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether NBT is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/evans-bancorp-inc-nyse-american-evbn/.
PetIQ, Inc. (Nasdaq – PETQ)
Under the terms of the Merger Agreement, PetIQ will be acquired by Bansk Group (“Bansk”) in a deal valued at approximately $1.5 billion. Bansk will acquire all outstanding shares of PetIQ for $31.00 in cash. The investigation concerns whether the PetIQ Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Bansk is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/petiq-inc-nasdaq-petq/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
BALA CYNWYD, Pa., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Enstar Group Limited (Nasdaq – ESGR)
Under the terms of the agreement, Enstar will be acquired by Sixth Street for $338.00 in cash per ordinary share of Enstar payable upon closing of the transaction, representing a total equity value of $5.1 billion. The investigation concerns whether Enstar Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Sixth Street is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/enstar-group-limited-nasdaq-esgr/
PetIQ, Inc. (Nasdaq – PETQ)
Under the terms of the Merger Agreement, PetIQ will be acquired by Bansk Group (“Bansk”) in a deal valued at approximately $1.5 billion. Bansk will acquire all outstanding shares of PetIQ for $31.00 in cash. The investigation concerns whether the PetIQ Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Bansk is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/petiq-inc-nasdaq-petq/.
Greenbrook TMS, Inc. (OTC – GBNHF)
Under the terms of the agreement, Greenbrook TMS will be acquired by Neuronetics, Inc. (“Neuronetics”) (Nasdaq – STIM) in an all-stock transaction. Each Greenbrook share is expected to be exchanged for 0.01149 shares of Neuronetics common stock at the closing of the transaction. Following the closing of the transaction, Neuronetics shareholders will own approximately 57% of the combined company, and Greenbrook shareholders will own approximately 43% of the combined company, respectively, on a fully diluted basis. The investigation concerns whether the Greenbrook TMS Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Neuronetics is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/greenbrook-tms-inc-otc-gbnhf/.
GSE Solutions, Inc. (Nasdaq – GVP)
Under the terms of the agreement, GSE Solutions will be acquired by Pelican Energy Partners (“Pelican”) for $4.10 in cash. The investigation concerns whether the GSE Solutions Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Pelican is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $5.38 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/gse-solutions-inc-nasdaq-gvp/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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