QUALCOMM Incorporated (NASDAQ:QCOM) is rated as Neutral by analysts at UBS. The firm was pushed by the stock performance to change their PT view from $64 to $55 on January 31. Analysts at Susquehanna, maintained the company shares at Positive on January 31 but switched target price from $75 to $65. Brokerage firm Mizuho, looks cautious as they stick to prior recommendation of Buy, in a call on January 31. However, they did change the target price from $66 to $62. Cowen, reiterated their call for Outperform, on January 31. On the other hand, they had set new target price to $70 versus $73.
QCOM stock rose 0.02% in recent trade and currently has a stock-market value of $67.68B. The shares finished at $55.4, after trading as low as $55.25 earlier in the session. It hit an intraday high Thursday at $55.87. Trading activity significantly weakened as the volume at ready counter decreased to 7,300,837 shares versus 12,325,520 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 14,833,816 shares. The stock is now 14.09% above against its bear-market low of $48.56 on April 26, 2018. It has retreated -38.09% since it’s 52-week high of $76.5 reached in September. Now the market price is down -7.2% on the year and down -2.65% YTD.
Wall Street’s most bullish QUALCOMM Incorporated (NASDAQ:QCOM) analysts are predicting the share price to blow past $76.7 per share during the next 12 months. The current median share price forecast by them is $60, suggesting that the stock could increase 8.3% in that time frame. The average price target of $63.41 calls for a nearly 14.46% increase in the stock price.
QUALCOMM Incorporated (QCOM)’s 50 day simple moving average (SMA 50) price is $53.31 and its 200-day simple moving average (SMA 200) price is $60.21. The company’s stock currently has a total float of 1.21B shares. Its weekly volatility is hovering around 1.48% and felt 1.69% volatility in price over a month. On the upside, the share price will test short term resistance at around $55.76. On a downside, the stock is likely to find some support, which begins at $55.14. The failure to get near-term support could push it to $54.89.
When looking at valuations, QUALCOMM Incorporated (QCOM) has a pricey P/E of 36.81x as compared to industry average of 17.47x. Moreover, it trades for 12.78 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 18.59x price/book and 3.15x price/sales. Compared to others, QUALCOMM Incorporated is in a different league with regards to profitability, having net margins of 10%. To put some perspective around this, the industry’s average net margin is 5.31%. QCOM’s ROE is 16.8%, which is also considerably better than the industry’s ROE of 8.16%. It’s also very liquid in the near term, with a current ratio of 1.5. The stock has a debt/capital of 4.53.
Shares of QCOM have gained 10.4% since the company’s most recent earnings report. Over the past 12 fiscal quarters, QUALCOMM Incorporated (NASDAQ:QCOM) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 0 quarters (0%), whereas at 1 occasion EPS met analyst expectations. QCOM last reported earnings that exceeded expectations. The company raked in $1.2 per share, -88.17% change on the same period last year. That was better than consensus for $1.09. Revenue for the recent quarter stood at $4.82 billion, down -20% on last year and below the $4.9 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $4.87 billion to $5.86 billion, which should be compared with $6 billion generated last year. EPS is seen in a range of $0.79 to $1.18, against the $1.13 reported a year ago.