CGI Inc Shares Enter Oversold Territory
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: NASDAQ.COM
- Oversold Signal: CGI Inc (Ticker: GIB) saw its RSI drop to 29.6 during Wednesday's trading, indicating an oversold condition as shares hit a low of $83.78, suggesting that recent heavy selling may be nearing exhaustion.
- Market Comparison: In contrast to the S&P 500 ETF (SPY) with an RSI of 58.1, GIB's oversold status could entice bullish investors to seek entry points, indicating a potential shift in market sentiment.
- Price Fluctuation Range: GIB's 52-week low stands at $83.75, while the high is $122.79, with the last trade at $84.28, indicating that the stock is hovering near its low, which may attract value investors' attention.
- Investor Sentiment: Despite the current price being close to its low, investors should cautiously assess changes in market sentiment to determine whether to buy in an oversold condition, which could impact future price movements.
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Analyst Views on GIB
Wall Street analysts forecast GIB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GIB is 129.22 USD with a low forecast of 81.00 USD and a high forecast of 270.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 86.350
Low
81.00
Averages
129.22
High
270.00
Current: 86.350
Low
81.00
Averages
129.22
High
270.00
About GIB
CGI Inc. is a Canada-based independent information technology (IT) and business consulting services company. It delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. Its segments include Western and Southern Europe (France, Portugal and Spain); United States (U.S.) Commercial and State Government; U.S. Federal; Canada; Scandinavia, Northwest and Central-East Europe (primarily Sweden, Netherlands, Norway, Denmark and Czech Republic); United Kingdom (U.K.) and Australia; Germany; Finland, Poland and Baltics; and Asia Pacific Global Delivery Centers of Excellence (mainly India and Philippines) (Asia Pacific). It works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. It also has a presence in other European countries and Morocco.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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