Tapestry, Inc. Common Stock | TPR

Daily Technical Analysis of Tapestry, Inc. Common Stock

Tapestry is up a bit on the day, funds flowing in kept the price up 2.54% since yesterday. It looks like TPR may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. In addition to being near an angled support line TPR is near a strong horizontal support line. Buyers have previously thought that this was a good deal and bought at this price, shorts covered and sellers didn't enter the market. Prices typically have a higher probability of bouncing off this level and moving back upward. Tapestry has been drifting up over the last few months, I wouldn't be too surprised if it gets a little bounce here.

If we get a reversal off of support and Tapestry starts moving up, it can probably get to $90.67 at which point it'll need to break through that resistance level in order to keep moving higher. If it punches through this support level, it can easily push down to $65 where it may meet further support, hopefully it can consolidate around that point.

Analyst Ratings for Tapestry By Price Target And Rating

The analysts are pretty neutral on Tapestry right now, so not much useful information here. The current Analysts Sentiment Score is 1.78. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. Telsey Advisory Group reiterated a rating of Outperform on 2024-03-27 and provided a price target of $54.00. Jefferies Financial Group downgraded from Buy to Hold on 2024-02-29 and provided a price target of $50.00. On 2024-02-09 The Goldman Sachs Group increased their price target by 14.63% to $47.00. On 2024-02-05 there was an upgrade provided by Evercore ISI from In-Line to Outperform and also increased their price target by 66.67% to $50.00. Wells Fargo & Company boosted their price targ by 20% to $60.00 on 2024-02-02. Raymond James gave a boost to their price target and moved to $44.00 from $40.00 on 2024-01-30. On 2023-12-12 Morgan Stanley reiterated their rating of Equal Weight and added a price target of $38.00. JPMorgan Chase & Co. provided a price target decease of -26.79% to $41.00 from $56.00 on 2023-11-13. BMO Capital Markets provided a price target decease of -9.3% to $39.00 from $43.00 on 2023-11-10. Redburn Atlantic released a downgrade on 2023-09-13 from Overweight to Neutral and they set their price target at $33.00.

Earnings Per Share (EPS) Estimates By Year and Quarter

Short interest for Tapestry

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Social Sentiment for Tapestry

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.