Needham Sticks to Its Buy Rating for World Wrestling (WWE)

By Austin Angelo

Needham analyst Laura Martin maintained a Buy rating on World Wrestling (WWEResearch Report) today and set a price target of $88.00. The company’s shares closed last Monday at $71.16.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 19.2% and a 63.2% success rate. Martin covers the Services sector, focusing on stocks such as Walt Disney, CBS Corp, and comScore.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for World Wrestling with a $92.00 average price target, representing a 28.1% upside. In a report issued on September 23, Wells Fargo also initiated coverage with a Buy rating on the stock with a $94.00 price target.

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The company has a one-year high of $100.45 and a one-year low of $58.50. Currently, World Wrestling has an average volume of 1.1M.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WWE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

World Wrestling Entertainment, Inc. engages in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands.