Eli Lilly And Co. (NYSE: LLY) stock price is soaring upside that took its price to trade above $553.00. The bullish market trend further supported the RSI that took the stock to its overbought zone.
Earlier this month, Eli Lilly And Co. also reported its recent quarter result. On that day, LLY stock experienced over 5 Million increased volume activity of active bulls. However, in the recent trading session, the volume dropped to nearly 1 Million in LLY stock price.
LLY Stock Price Performance
LLY stock price added $5.65 with a 1.03% price gain and closed at $553.65 on August 25, 2023, Friday’s trading session. The trading range of the stock was between $556.10 to $547.08 while the opening was $549.63.
The bullish market trend in LLY stock price taking its price to trade upside from its 20-day EMA. The increased bulls’ activity supported LLY’s share price to trade upside from $553.00. The weekly price gain was more than 3% which was due to bulls’ support.
The above chart is showing the upside-rising chart of LLY stock that eventually takes its RSI above the overbought zone. It should also be noted that after the recent quarter report, LLY stock left its 20-day EMA and is soaring upwards over the EMA.
Furthermore, the 1-year price target set by analysts is showing at $545.75, down more than 1% from the recent closing price of LLY stock. Their maximum estimate is showing at $633.00 while the minimum estimate is at $300.00. Meanwhile, in the past 3 months analysts gave a “buy” rating to Eli Lilly and Company.
Q2 2023 Update of Eli Lilly and Co.
Eli Lilly And Co. (NYSE: LLY), an American pharmaceutical company, has a market cap of nearly $525.57 Billion. Earlier this month, the company reported its recent second-quarter result that states its net income is $1.76 Billion while LLY’s price-to-sales ratio is 16.76.
The pharmaceutical company has an Enterprise Value to EBITDA ratio of 57.37. LLY dividends are paid quarterly and the last dividend per share was $1.13. As of today, the Dividend Yield (TTM)% is 0.77%.
In Q2 2023, LLY earnings per share (EPS) was $2.11 whereas the estimation was $1.98 which accounts for a 6.61% surprise. The revenue during the similar quarter amounts to $8.31 Billion despite the estimated figure of $7.58 Billion. The estimated EPS for the next quarter is $2.90, and revenue is expected to reach $8.76 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/26/lly-stock-price-shows-rising-graph-with-over-50-ytd-growth/