According to the price targets set by Wall Street Analysts, the shares of Axcelis Technologies (NASDAQ:ACLS) have a potential upside of 28.1%. The lowest estimate of the increase in share is 13.9% while the highest estimate of the increase in share is 35.2%.
Nevertheless, the price target by Wall Street Analysts is not the only indicator of the potential surge of ACLS stock. The Wall Street Analysts have agreed that the company will be getting better earnings than estimated. The positive trend of ACLS earnings estimation revision is an effective indicator of the growth of the stock price.
Wall Street's price target indicates ACLS share price
Put simply, a price target is an estimation by analysts on the potential growth in the share price of a company. If the standard deviation of the price target is low, it means that the analysts have a high degree of agreement about the stock price movement.
The price target of ACLS is high while the standard deviation is low. This means that the analysts are in an agreement that the company’s prospects are optimistic. Meanwhile, the Zacks Consenses has ranked ACLS at Rank #1. It means that ACLS is ranked in the “Strong Buy” category.
Only 5% of 4000 stocks are ranked at Zacks Rank #1. The Zacks Consensus has increased its estimation on ACLS stocks. ACLS has had an impressive track record over the past few years. In the last 3 years, ACLS price is up by 393%, which is an amazing return for long-term holders. In the last quarter, ACLS share price is up by 21%. Therefore, ACLS share is now on a growing trend and analysts have generally agreed that there is still growth potential for the company.
