COTY stock has shown the potential strength of active bulls during its most recent trading session showing over 4% price gain. However, the stock price has experienced a 6.72% price decline in a month which further showed a 3.02% weekly price drop.
But as Coty Inc. has recently reported its fourth quarter result, COTY share price has started showing bull’s increased activity. As per its recent trading session activity, COTY stock experienced over 6 Million volume activity with increased bulls’ support.
This bullish trend followed an upward market trend that started its journey from its 200-day EMA. However, this upside journey stayed in between its 200 and 20-day EMA in the recent one day.
Will the COTY Stock Price Reach Near its 20-Day EMA?
COTY stock price opened at $10.72 and rose up to $11.34 while showing a 4.94% price gain on August 23, 2023, Wednesday’s trading session. This price surge has added $0.53 to its trading price which has been experiencing a bearish trend for the last month.
As quite good bulls’ support was seen during the recent trading session, it can be said that COTY stock may reach near its 20-day EMA. However, this will require continuation of the current market trend.
The bullish trend in COTY stock price also took its RSI to follow an upward path. It must be noted that the recent earnings report of Coty Inc. was negative, still COTY share price showed bulls support that previously experienced bears’ potential dominance.
The one-year price target set by analysts is showing at $13.17, up over 17% from the recent closing price of COTY stock. Their maximum estimate is resting at $15.00 whereas the minimum estimate is at $11.00. Additionally, analysts gave a “buy” rating to Coty Inc. in the past three months.
Q4 2023 Update of Coty Inc.
Coty Inc. (NYSE: COTY), a French-American multinational beauty company, reported its Q4 2023 result on August 22, 2023. The Q4 2023 report highlights that its net income is $32.90 Million. The price-to-sales ratio of COTY is 1.67 and has an Enterprise Value to EBITDA ratio of 13.37.
The Q4 2023 results highlight that COTY earnings per share (EPS) is $0.01 whereas the estimation was $0.02 which accounts for a 38.99% surprise. The revenue also reached $1.35 Billion despite the estimated figure of $1.31 Billion. For the next quarter, the estimated EPS is $0.16, and revenue is expected to reach $1.54 Billion.
In 2022, the revenue of Coty Inc. reached $5.55 Billion, most of which — $3.27 Billion— came from its highest performing source at the moment, “prestige”.
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/24/will-coty-stock-price-rise-more-after-recent-quarter-result/