Domino's Pizza (DPZ) Stock Price Target Analysis After Q3 Earnings
Domino's Pizza Stock Price Target Analysis
Domino's Pizza (NYSE: DPZ) released its Q3 2024 earnings report on October 10, opening at $407.38, before quickly rising to a closing price of $429.67 by October 11. Despite the stock's overall uptrend, it has reported a year-to-date rise of 3.91%. While the EPS report showcased a solid beat at $4.19, revenue figures fell short of estimates at $1.08 billion against forecasts of $1.10 billion.
Market Reactions and Price Target Adjustments
Various analysts have adjusted their price targets for Domino's stock following the mixed earnings call. While some maintain bullish positions, they show tempered expectations. For instance, Todd Brooks from Benchmark maintains a ‘Buy’ rating with a price target still at $520, whereas Peter Salhes cut his previous target from $580 to $500, though maintaining a ‘Buy’ rating as well.
- Nick Setyan from Wedbush: Price Target at $470
- Jefferies: Alexander Slagle revised down to $450
Despite the analysts' optimism, a series of downgrades could lead to rapid corrections in the stock price.
Future Outlook for Domino's Stock
With Wall Street projecting an average price target of $472.92 for the next year, it implies a 10.07% upside potential. However, the mixed ratings – including 16 ‘Buy’, 9 ‘Hold’, and 1 ‘Sell’ rating – depict a cautious outlook. Investors should be alert for potential downturn corrections as these could signify better entry points for long positions in DPZ.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.