Verizon Communications Inc. (NYSE: VZ) Verizon Stock price has decreased nearly 4% in the recent 4 days, as the stock dropped from the price of $38.66 to $37.35. Similar stocks such as AT&T Inc. (NYSE: T), Johnson & Johnson (NYSE: JNJ), and Apple Inc (NASDAQ: AAPL) have also declined nearly 1%, 0.45%, and 1% respectively in one day.
The total revenue of VZ for Q1 2023 is $32.91 Billion, and it’s 6.64% lower compared to the previous quarter. The net income of Q1 23 is $4.91 Billion. Verizon Communications paid dividends on a quarterly basis, and its last dividend per share was $0.65.
VZ EPS for Q1 2023 is $1.20 whereas the estimation was $1.19 which accounts for a 0.52% surprise. Its revenue for the same period amounts to $32.91 Billion despite the estimated figure of $33.57 Billion. For Q2 2023, the estimated EPS is $1.17, and revenue is expected to reach $33.66 Billion.
Verizon (NYSE: VZ) Stock Price Analysis
According to the data sourced from Tradingview, VZ stock price showed a bearish trend on its May 4th trading session while the stock 1.66% drop in the last 24 hours. Verizon stock closed at the price of $37.35 and showed a bearish outlook. The pre-market price of VZ stock is showing at the $37.40 level, which is quite bullish. Meanwhile, as per the recent price analysis of VZ stock, there are active bears in the market.
Source: VZ/USD by Tradingview
With the dominance of bears in the market, the price of Verizon stock dropped from its 20-day EMA in just one day. After the release of Verizon Communications’ Q1 2023 results, the stock price jumped nearly at the price of $38.00. Then from the beginning of this month, the price started declining and reached nearly the price of $37.00. It must be noted that the 52-week low of VZ stock was at $34.55 while the 52-week high was at $52.18.
The RSI of VZ stock further showed a downtrend and seems like proceeding toward the oversold soon. As the bulls were sleeping, the bears showed their dominance and took the stock price downward.
Source: Price Target of Verizon Stock by Tradingview
The price target of VZ stock is at $42.10 which is set by analysts, however, the price target is nearly 12% up from its recent closing price. Moreover, the analysts have set their 1-year price target for Verizon stock with a higher estimate at $51.00 while a lower estimate is at $37.00.
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.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/05/vz-verizon-stock-following-bearish-trend-after-its-q1-results/