Needham Gives a Buy Rating to ViacomCBS (VIAC)


In a report released today, Laura Martin from Needham assigned a Buy rating to ViacomCBS (VIAC), with a price target of $80.00. The company’s shares closed last Thursday at $38.15.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 27.6% and a 63.8% success rate. Martin covers the Services sector, focusing on stocks such as CuriosityStream, World Wrestling, and Walt Disney.

Currently, the analyst consensus on ViacomCBS is a Hold with an average price target of $57.41, a 42.7% upside from current levels. In a report issued on April 27, Citigroup also upgraded the stock to Buy with a $56.00 price target.

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Based on ViacomCBS’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.23 billion and net profit of $810 million. In comparison, last year the company earned revenue of $6.06 billion and had a GAAP net loss of $258 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VIAC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ViacomCBS Inc. is a diversified multinational mass media conglomerate. The company owns and operates broadcast television stations, and provides cable network services including subscription and a free streaming TV platform. It also engages in developing, producing, financing, acquiring, and distributing films, television programming, and other entertainment content. In addition, the company publishes and distributes adult and children’s consumer books in digital, audio and printed formats.

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