Stifel launched its Guardant Health [GH] rating to the equivalent of Buy and assigned the price target of $175.0, in a research note dated 2021-01-11. That figure represents around a 22.49% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with BTIG Research’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in mid June. Meanwhile, Guggenheim had launched its coverage on GH with “Buy”, in a research note produced for clients February 21, 2020. In addition, Citigroup launched coverage on January 07, 2020. The research firm rated GH “a Buy”.
Is Guardant Health Inc. [NASDAQ:GH] a Good Buy Right Now?
It should be noted that GH technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 96% Buy in the last week and compares with 100% Buy in the past month. Data from Guardant Health Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.12 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.99 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.98 million shares.
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GH Price Performance
On Wall Street, Guardant Health Inc. [NASDAQ:GH] finished Friday’s session up 3.26% at $142.87. The stock went up to $147.79 at the same session while its lowest single day price was $139.12. In the last five days, it saw a rise of about 10.86%, Guardant Health Inc. shares gained by almost 10.86% since the beginning of the year. However, the share price has dropped to as low as 3.04% below its one year high. On 01/08/21, the company shares recorded $147.79, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $123.03. The company’s shares have inclined by 83.14% in the past year. The 50-day SMA achieved is $120.32 while the 200-day SMA is $96.20. Volume gained to 1.58 million from 1.08 million in the previous session.
GH Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 138.73 level, and in case of violation of this particular level, it will cause more drop to 134.59 level. On the upper level, 151.93 is still the key resistance. The stock may increase to the subsequent resistance at 147.40. The Relative Strength Index (RSI) pinned on the 14-day chart is 70.14, implying a overbought technical stance while the MACD stands at 6.13, meaning price will increase in the next trading period. Percent R indicator moved to 17.77%, implying bullish price movement. Stochastic %K at 77.21% suggest selling the stock.
What is the short interest in Guardant Health Inc.?
Short interest in the Guardant Health Inc. stock has plunged, decreasing by -1.4 million shares to total 3.3 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.9 million, data from Yahoo Finance shows. The increase of 42.42% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.79% of the overall float for the stock.
Guardant Health Inc.’s Biggest Shareholders: Who Owns Guardant Health Inc. [GH]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 6,420,054 shares or roughly 6.42% of the outstanding GH shares. This means their shares have increased by 197,665 from the 6,420,054 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Morgan Stanley Investment Managem updated stake is worth $719,871,633. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 9.47% stake valued at $507,084,504 while Viking Global Investors LP added theirs at $466,904,640. During the last quarter, BlackRock Fund Advisors raised 362,037 of its shares in Guardant Health Inc. while Viking Global Investors LP bought 786,720 shares. The ClearBridge Investments LLC’s holdings currently number 3,301,037 shares at $471619156.19. According to the firm’s last 13F report, Jennison Associates LLC shares in the company at filing stood at 3,177,445 shares, roughly $384,852,138.
GH Earnings Forecast For The Current Quarter
Guardant Health Inc. [GH] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $76.28M and an earnings per share of -$0.53 for Dec 2020. Looking further ahead, the company is expected to report revenue of $80.06M at an EPS of -$0.46 for Mar 2021. The estimates represent upside of 31.20% and 34.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
GH Earnings Estimates For The Current Year
For the financial year, Guardant Health Inc. [NASDAQ:GH] is expected to bring in revenue of $284.46M. The returns are nearly $70.08 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -2.18, lower than that of FY19 by -$1.34. Estimates put this year’s earnings growth at -159.50%, 34.90% for the next, and at an annual 29.70% over the next 5-year period. As for sales, forecasts are for an increase of 32.70% in the current fiscal year and a further 31.20% over the following year.