During the past trading session, shares of Cree, Inc. (NASDAQ:CREE) traded +0.00%. Covering analysts are predicting the stock to move to $23.80 within the next year. Depending on the analyst, target price projections may differ widely. This target price is a consensus number based on polled analysts by Thomson Reuters.
Analysts and investors may use different metrics in order to calculate a price target projection. A very common metric used is the price to earnins ratio of a company. This calculation comes from dividing the current share price by the projected earnings per share. At the time of writing, Cree, Inc. has a P/E Ratio of 721.14. Investors may also examine a company’s PEG or price to earnings growth ratio. The PEG ratio represents the ratio of the price to earnings to the anticipated future growth rate of the company. A company with a PEG Ratio below one may be seen as undervalued while a PEG Ratio above one may signal that the company is overvalued. A PEG Ratio close to one may be considered to be fair value. Currently, the stock has a PEG Ratio of -4.88.
Let’s take a quick look at stock performance. Shares are currently trading $1.57 away from the 50-day moving average of $23.67 and $0.49 away from the 200-day moving average of $24.75. Shares are currently trading -23.33% away from the 52-week high price of 32.92 and +21.64% off the 52-week low of 20.75. Keeping an eye on the stock price relative to moving averages and yearly highs/lows may help evaluate future stock value.