Can Blackstone Inc (BX) stock recover despite sales dropping?

In yesterday’s Wall Street session, Blackstone Inc (NYSE:BX) shares traded at $98.20, up 3.64% from the previous session.

23 analysts cover Blackstone Inc (NYSE:BX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $120.00 and a low of $89.00, we find $105.00. Given the previous closing price of $94.75, this indicates a potential upside of 10.82 percent. BX stock price is now -5.92% away from the 50-day moving average and 4.31% away from the 200-day moving average. The market capitalization of the company currently stands at $119.36B.

The stock has received a hold rating from 10 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $106.17 as their price target over the next twelve months.

With the price target of $113, HSBC Securities recently initiated with Hold rating for Blackstone Inc (NYSE: BX).

In other news, Finley John G, Chief Legal Officer sold 29,900 shares of the company’s stock on Oct 30. The stock was sold for $2,762,461 at an average price of $92.39. Upon completion of the transaction, the Chief Legal Officer now directly owns 424,863 shares in the company, valued at $41.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 02, Director Baratta Joseph sold 74,565 shares of the business’s stock. A total of $8,002,567 was realized by selling the stock at an average price of $107.32. This leaves the insider owning 985,883 shares of the company worth $96.81 million. Insiders disposed of 433,847 shares of company stock worth roughly $42.6 million over the past 1 year. A total of 42.13% of the company’s stock is owned by insiders.

On Thursday morning Blackstone Inc (NYSE: BX) stock kicked off with the opening price of $97.23. During the past 12 months, Blackstone Inc has had a low of $71.44 and a high of $116.78. The fifty day moving average price for BX is $104.35 and a two-hundred day moving average price translates $94.44 for the stock.

The latest earnings results from Blackstone Inc (NYSE: BX) was released for Sep, 2023. According to the Asset Management Company, earnings per share came in at $0.94, missing analysts’ expectations of $1.01 by -0.07. This compares to -$0.04 EPS in the same period last year. The net profit margin was 12.07% and return on equity was 15.74% for BX. The company reported revenue of $2.81 billion for the quarter, compared to $629.22 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 347.33 percent. For the current quarter, analysts expect BX to generate $3.1B in revenue.

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