re: analyst target of 220 on NITE
Mark, I recall some analyst put a target of 280 on AMZN not too long ago, accordinginly:
1) When an analyst puts a ridiculously high target on a ridiculously high-P/E'd co like AMZN with exponentially increasing losses , this act signals the stock's top (at least for the near term); or
2) When an analyst puts a ridiculously high target on a revenue-generating machine like NITE, that almost guarantees a stint of profit-taking ... LOL
who knows....
NITE benefits from the scope of it's position as market maker to over 6,000 nasdaq issues, however, even though it is expanding internationally (i.e., england), there will be competition coming on stream by next year (Island, and others) and, with the co splitting soon, if the market turns soft, the shares could move sideways to down for a spell.
I bot at the 37/sh level in February, so I have a different perspective. 280 (pre-split) may be feasible ....eventually, but for the near term, in a skiddish market, I think 160 upside potential may be more realistic . |
