Setting Up Technical Traps: Garmin Ltd. (GRMN), Weibo Corporation (WB)

You should consider shares of Garmin Ltd. (NASDAQ:GRMN) and Weibo Corporation (NASDAQ:WB) if you are looking for a great stocks to invest in. Starting with the GRMN shares, which traded at $96.49 at the close of the recent session, dropping -0.44%. On Tuesday, the company’s shares shed -$0.43 from its value which represented in intraday trading. The stock is now 44.75% higher in year-to-date (YTD) trading. GRMN’s intraday high was $96.92 while its lowest price touched $95.975. The stock’s 52-week high price is $98.76, which means the current price is at -2.30%. In terms of trading activity, the daily trading volume fell to 1086536 against 200-day average trading volume of 1,139,402 shares.

What are analyst forecasts for Garmin Ltd. (NASDAQ:GRMN)?

At a consensus rating of 2.83, GRMN is trending as a streaking Hold, as it has been the case a month ago when 6 analysts called it a Hold. Two months ago, 6 analysts recommended, on average, that GRMN stock is a Hold. The Technology company’s shares’ overall bearish trend saw it close higher on Tuesday compared to its opening price of $96.13 on the day.

Forecasts for Garmin Ltd. (NASDAQ:GRMN) give the stock a fair value for the growth of -13.52% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $85.00, which means the price per share could fall by nearly -$11.49. The price range target is between a low of $73.00 and a high of $90.00. The stock would need to loss by about $-7.21 to hit the estimated high or 0.62% from its 12-month low.

The consensus among 9 analysts is that it is a good time for one to Hold in the Garmin Ltd. 0 analysts rate GRMN as a Buy, with 1 of 9 analysts rate it as a Sell. 0 have valued the stock as Overweight and 6 have recommended that investors Hold.

Garmin Ltd. (NASDAQ:GRMN) Upgrades and Downgrades

In terms of rating changes, JP Morgan on June 07, 2019, Resumed Garmin Ltd. (GRMN) at Neutral. They believe the stock could reach $75 in the near term. Analysts at Longbow have assigned a Neutral rating for the stock in their research note on February 21, 2019. Moreover, Morgan Stanley analysts issued a rating of Equal-Weight for the stock on September 21, 2018, giving it a price target of $77 for the next 12 months. On July 19, 2017, the stock earned a Buy rating due to an analyst call from Longbow, while analysts from JP Morgan on May 04, 2017 suggested that the stock is Underweight.

Weibo Corporation (NASDAQ:WB) adds -$0.68 on Tuesday

The WB stock has tanked -26.53% year-to-date and is currently trading at $42.93, which is -42.51% below its 52-week high. The company shares lost -1.56% on the day and have risen nearly 25.29% off a low hit. At current levels, Weibo Corporation has a valuation of about $1.78B. As of 12/03/19, this stock has risen 0.35% during the week and closed at $43.61 in the previous session. However, recent Weibo Corporation stock performance shows that WB shares are -15.48% down over the last month, and -4.60% down for the last three months.

Earnings per share (EPS) estimates for the current quarter are $0.75, with the trailing 12-month share earnings at $2.44. The ratio is expected to be down by -0.40% for the current year 2019 and 4.80% for next year. Over the next 5-year period, earnings per share will be 5.46%. But will the WB stock surprise in the current quarter results, where the $0.77 actual EPS reported on 9/29/2019 surprised by 5.50% or was higher by $0.04 from the estimated $0.73.

Sales Growth to climb 8.50% for the year

How well will Weibo Corporation perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $453.21M and $490.01M in current quarter sales. The consensus estimated for the current quarter is $472.97M from sales. Forecasts for this fiscal year are between $1.75B and $1.79B and the consensus estimate for sales is at $1.77B. WB has its next quarter sales estimates at between $404.7M and $404.7M, with the quarter-over-quarter growth estimates at 1.40% and the annual growth forecast for the year at 8.50%.

Who owns shares in Weibo Corporation (WB)?

Let’s briefly focus on the share ownership of the Weibo Corporation (NASDAQ:WB) stock, where we find that 40.16% of shares are held by institutions. Alibaba Group Holding Ltd tops the list of institutional owners as it is holding 9.0 million shares or 7.30% of shares outstanding. Schroder Investment Management Group and Invesco Ltd. held 5.34 million and 5.03 million representing 4.34% and 4.08% respectively at the close of the last trading session. As of Sep 29, 2019, Fisher Asset Management, LLC accounted for 4.02 million shares at over 180.01 million. This represented 3.26% of shares outstanding. Platinum Investment Management Ltd held 3.1 million shares at over 138.58 million representing 2.51% of shares outstanding.