Sothebys (BID) Receives Analyst Rating

Sothebys (BID) : Zacks Investment Research ranks Sothebys (BID) as 1, which is a Strong Buy recommendation. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 2 research analysts is 3, which indicates as a Hold.

Sothebys (BID) : 2 investment research analysts covering Sothebys (BID) have an average price target of $35.5 for the near short term. The highest target price given by the Brokerage Firm to the stock is $36 and the lowest target is $35 for the short term. Analysts expect the variance to be within $0.71 of the average price.


Sothebys (NYSE:BID): After opening at $37.26, the stock dipped to an intraday low of $37.18 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $38.28 and the buying power remained strong till the end. The stock closed at $37.96 for the day, a gain of 2.24% for the day session. The total traded volume was 468,362. The stocks close on the previous trading day was $37.13.

Sothebys is a global art business company. The Company operates in three segments: Agency, Principal and Finance. The Companys Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers (also known as consignors) to buyers through the auction or private sale process. The Companys Principal segment is engaged in the sale of artworks that have been purchased by Sothebys, including property acquired for sale at auction in the near term in lieu of the Agency segment providing an auction guarantee to a potential consignor. The Companys Finance segment provides certain collectors and art dealers with financing secured by works of art that Sothebys either has in its possession or permits borrowers to possess.

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