Rover Group Reaches Analyst Target Price
In recent trading, shares of Rover Group Inc (Symbol: ROVR) have crossed above the average analyst 12-month target price of $6.83, changing hands for $6.94/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 6 different analyst targets within the Zacks coverage universe contributing to that average for Rover Group Inc, but the average is just that a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $6.00. And then on the other side of the spectrum one analyst has a target as high as $8.00. The standard deviation is $0.816.