Warner Bros. stock price experienced a hike of over 19% in the past five intraday sessions. The recent price hike has turned the short-term trend optimistic ahead of the quarterly results.
Warner Bros. Discovery, Inc. is yet to declare its third quarterly results on Wednesday, 8th November. The pre-earning sentiments have turned optimistic indicating good quarterly results ahead.
Moreover, on looking precisely, it is observed that several large-cap firms have reported surprising results post which their stock prices have turned around. It might be one of the reasons the investors’ sentiments have shifted to the optimistic side.
WBA Stock Turning Optimistic Ahead of Quarterly Results
Warner Bros. Discovery Inc. is yet to announce its third quarterly results on Wednesday. It is one of the largest media firms with a high potential to scale. The firm owns some of the largest global media networks including HBO, Discovery, CNN, TLC, etc.
The company operates through two major streaming services, HBO Max and Discovery+. It holds a market cap of $27.908 Billion. Started in 2022, the company is headquartered in New York.
Investors will be eagerly watching for the performance of Warner Bros. stock price in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on November 8th. The analysts expect the firm to post earnings of negative $0.08 per share.
The analysts are anticipating revenue of $9.97 Billion, indicating a 1.46% upward movement from the same quarter last year.
Warner Bros. Stock Price Prediction 2023
WBD stock price analysis illustrates that the bulls have made a comeback and have surpassed the recent swing high. The recent surge has triggered a reversal in the stock price.
The technical indicators imply that the stock price has surpassed the 50-day EMA and is headed towards the 200-day EMA. Moreover, the price trend may remain volatile in the upcoming sessions due to the earnings.
The WBD stock price prediction for 2023 signifies a wide range of outlook. The most optimistic analysts expect a potential of nearly 50% that could take the price to a high of $17.24. The pessimistic analysts expect a drawdown of 23% that could drag the price to a low of $8.7.
WBD Stock Price Prediction 2024
Analysts offering price forecasts for the year 2024 have a maximum bullish outlook of 83% that could surge the price to a high of $22. The average analysts’ target for the year 2024 ranges between $18 to $20. On the flip side, the most pessimistic analysts expect the price could reach a high of $15 by 2024.
Conclusion
Warner Bros. Discovery Inc. is a large media company that owns HBO, Discovery, CNN, and other networks. It also holds streaming services: HBO Max and Discovery+.
The WBA company is all set to announce its third-quarter results on November 8th. The stock price has surged over 19% in the past five days, as investors expect good quarterly results. Moreover, The analysts have a wide range of predictions for the future of the stock, ranging from a high of $17.24 to a low of $8.7.
Technical Levels
- Support Levels: $9.57 and $8.83
- Resistance Levels: $11.92 and $12.99
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/07/wbd-stock-price-surged-by-19-will-the-bull-run-continue/