Needham analyst Laura Martin assigned a Buy rating to World Wrestling (WWE) today and set a price target of $45.00. The company’s shares closed last Thursday at $39.07, close to its 52-week low of $29.11.
According to TipRanks.com, Martin is a top 100 analyst with an average return of 16.1% and a 61.3% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, Nielsen Holdings, and Walt Disney.
Currently, the analyst consensus on World Wrestling is a Moderate Buy with an average price target of $49.57, implying a 25.6% upside from current levels. In a report issued on April 9, MKM Partners also maintained a Buy rating on the stock with a $48.00 price target.
See today’s analyst top recommended stocks >>
World Wrestling’s market cap is currently $3.02B and has a P/E ratio of 48.10. The company has a Price to Book ratio of 11.96.
Based on the recent corporate insider activity of 38 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 WWE 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.
World Wrestling Entertainment, Inc. engages in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands. It operates through the following business segments: Digital Media, Live Events, Consumer Products Division, WWE Studios, and Corporate & Other. The Digital Media segment revenues consist principally of subscriptions to WWE Network, fees for viewing its pay-per-view and video-on-demand programming, and advertising fees. The Live Events segment revenues consist principally of ticket sales and travel packages for live events. The Consumer Products segment revenues consist principally of royalties or license fees related to various WWE themed products such as video games, toys and apparel. The WWE Studios segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The Corporate & Other segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The company was founded by Vincent K. McMahon in 1980 and is headquartered in Stamford, CT.
