Williams-Sonoma Stock Slips on Analyst Warning

The stock has been moving lower since August

Deputy Editor
Oct 24, 2022 at 10:13 AM
facebook X logo linkedin


The shares of Williams-Sonoma Inc (NYSE:WSM) are down 5.6% at $110.95 at last glance, after Jefferies issued a scathing research note. The firm downgraded WSM to "underperform" from "hold," with a price-target cut to $100 from $160, calling Williams-Sonoma a "poster child" for retailers that over-earned during Covid and noting deteriorating demand that should worsen into 2023. 

The majority of analysts are bearish toward WSM, too. In fact, of the 23 covering brokerages, 16 currently carry a "hold" or worse rating. 

On the charts, Williams-Sonoma stock has pulled back from its August highs around $170 -- now trading at its lowest level since the start of July. Down 33.5% year-to-date, the equity just last week dropped below support at the $117 level, with pressure from its descending 20-day moving average. 

Though short interest has crept lower, it still represents 10% of the stock's available float. It would take over 11 days to buy back these bearish bets, at WSM's average pace of trading.

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI