Why ABAXIS, Inc. (NASDAQ:ABAX) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $50.25 on ABAXIS, Inc. (NASDAQ:ABAX) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.36 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of ABAXIS, Inc. (NASDAQ:ABAX) stands at 35.91. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For ABAXIS, Inc., the PEG ratio for coming 3-5 years is 2.07. Technical Analysis The technical analysis highlights that ABAXIS, Inc. current price is trading $0.51 points away +1.05% from $48.86, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $45.28 and, for now, the stock price is trading $4.09 or +9.04% away from that point. The 52-week high of ABAXIS, Inc. (NASDAQ:ABAX) was $58.15 while lowest point recorded in 52-week was $37.71. It implies if stock price makes a movement of over $-8.78, it will record a new 52-week high. In the case of $+30.92% points drop, it will touch a new 52-week low.

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