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Needham Thinks Paramount Global Class B’s Stock is Going to Recover

Needham analyst Laura Martin maintained a Buy rating on Paramount Global Class B (PARAResearch Report) today and set a price target of $36.00. The company’s shares closed last Thursday at $25.31, close to its 52-week low of $23.15.

According to TipRanks.com, Martin is a 3-star analyst with an average return of 1.8% and a 43.1% success rate. Martin covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment, Tremor International, and CuriosityStream.

The word on The Street in general, suggests a Hold analyst consensus rating for Paramount Global Class B with a $27.35 average price target, which is a 14.4% upside from current levels. In a report issued on August 2, Deutsche Bank also maintained a Buy rating on the stock with a $35.00 price target.

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Paramount Global Class B’s market cap is currently $16.57B and has a P/E ratio of 4.91.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PARA 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.

ViacomCBS Inc. is a diversified multinational mass media conglomerate. The company owns and operates broadcast television stations, and provides cable network services including subscription and a free streaming TV platform. It also engages in developing, producing, financing, acquiring, and distributing films, television programming, and other entertainment content. In addition, the company publishes and distributes adult and children’s consumer books in digital, audio and printed formats.

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