ASOS Plc (LON:ASC), the online fashion retailer, saw its shares rise above its 200-day moving average during Tuesday's trading session. The stock reached a high of GBX 369.80 (£3.77) after closing at GBX 365.80 (£3.72) with a volume of 81,001 shares traded.
The 200-day moving average, a technical indicator used to assess long-term trends, currently sits at GBX 363.53 (£3.70). This upward movement suggests positive momentum for ASOS shares, hinting at potential continued growth.
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Analyst Opinions Remain Mixed
ASOS has been the subject of several recent analyst reports, with varying opinions on the company's future prospects.
JPMorgan Chase & Co. downgraded their price target on ASOS from GBX 350 (£3.56) to GBX 300 (£3.06) while maintaining a "neutral" rating.
Barclays reiterated an "equal weight" rating, suggesting a neutral outlook.
Berenberg Bank lowered their price target from GBX 510 (£5.20) to GBX 490 (£4.99) but maintained a "buy" rating, indicating optimism about the company's potential.
Shore Capital maintained a "sell" rating, expressing caution about ASOS's future performance.
Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a price objective of GBX 500 (£5.10).
Overall, the consensus rating for ASOS is "Hold," with a consensus target price of GBX 443.33 (£4.51) based on data from MarketBeat.com. This indicates a mixed outlook among analysts, with a balance between bullish and bearish sentiments.
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Financial Highlights and Company Profile
ASOS boasts a quick ratio of 0.39, a current ratio of 1.51, and a debt-to-equity ratio of 158.84. The company has a market capitalization of £436.51 million, a PE ratio of -183.82, a PEG ratio of -1.26, and a beta of 2.70. The stock has a 50-day moving average price of GBX 365.60 and a 200-day moving average price of GBX 363.53.
ASOS Plc operates as an online fashion retailer, offering a wide range of women's and men's clothing, footwear, and accessories. The company distributes its products through its own website and mobile app, catering to customers in the UK, US, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and other international markets. ASOS also sells products under its own brands, including ASOS Design, ASOS Edition, and ASOS Luxe, as well as through third-party brands.
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