Stock in the Spotlight: ANSYS, Inc. (NASDAQ:ANSS)

ANSYS, Inc. (NASDAQ:ANSS) has recently been spotted approaching 52-week highs. Investors may be following how the stock price reacts as it nears this level. At the time of writing, company shares had recently hit 222.79. At this level, shares are noted trading -2.80% away from the 52-week high mark. Investors will be curious to see if the stock can maintain momentum after breaking the 52-week high or if the level is merely breached and there is a pullback. Traders and investors might have to make the decision whether to lock in current profits, or hold on for a further push higher.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Investors may be trying to decide if stocks will make new highs before the year is out, and whether or not the bull market will celebrate its 9th anniversary next year. The tricky part is prognosticating the short term picture. Investors may not be comfortable enough to go all in, but they may not want to get bearish given the solid economic backdrop. Will there be a big breakout given the strength of earnings and economic growth? Will investors just become numb to the headlines and decide to focus on the positive economic picture? It is always wise to remember that the market can have a correction at any time for any reason. If the political landscape gets even more dysfunctional, then it may be enough of a driver to spur a correction. 

With the stock nearing 52-week highs, investors may be trying to project the price action over the next few months. Taking a look back at some historical performance numbers for ANSYS, Inc. (NASDAQ:ANSS), we can see that shares are 4.22% over the last week. For the last month, company shares are 3.90%. For the last quarter, the stock has performed 11.92%. Watching recent volatility levels, we can see that shares have been recorded at 1.82% for the week, and 1.98% for the last month. If we look back year-to-date, the stock has performed 57.54%. Over the past full-year, shares have performed 56.59%.

Investors may also be paying close attention to some simple moving average indicators on shares of ANSYS, Inc. (NASDAQ:ANSS). The moving average uses the sum of all of the previous closing prices over a certain time period and divides the result by the number of prices used in the calculation. Many investors will opt to use multiple time periods when examining moving averages. Recently, company shares have been recorded trading 0.68% away from the 20-day moving average. Pushing out to the 50-day, we can see that shares are currently trading 2.67% off of that number. Zooming out to the 200-day moving average, shares have been trading 13.75% away from that value.

ANSYS, Inc. (NASDAQ:ANSS) shares currently have a consensus recommendation of 2.20. This rating uses a scale from 1 to 5. A recommendation of 1 or 2 would represent a consensus Buy. A rating of 4 or 5 would indicate a consensus Sell. A rating of 3 would signify a consensus Hold recommendation. Investors often follow the opinions of sell-side analysts offering target prices on the stock. The consensus target price for the stock is presently $225.77.

The stock currently has a beta value of 1.39. Beta can be useful to gauge stock price volatility in relation to the broader market. A beta of 1 may show that the stock price moves with the market. A beta under 1 might indicate that the stock is less volatile than the market. A beta over 1 indicates that the stock price is more volatile than the market in theory.

Investors might have been ready to throw in the towel as the rally stalled recently. However, the panic subsided and growth-hungry investors came searching for their favorite stocks in the wreckage. Keeping things in perspective, the economy seems good, and so does earnings growth. Investors may be wondering where the money will be flowing in the second half of the year. Many people may assume healthcare and tech would be the easy targets, primarily because that’s where the earnings growth is. Industrials and staples are no slouches for growth either, but they may be well fully-valued for their growth. Traders will most likely be honing their strategies that they created, trying to beat the market over the next couple of months. 

Leave a Reply

Your email address will not be published. Required fields are marked *

*