Wall Street Analysts Believe SkyWater Technology (SKYT) Could Rally 34.97%: Here's is How to Trade

Core Viewpoint - SkyWater Technology, Inc. (SKYT) shows significant potential for upside, with a mean price target of $11 indicating a 35% upside from its current price of $8.15, following a 23.7% gain over the past four weeks [1]. Price Targets and Analyst Consensus - The average price targets from analysts range from a low of $8 to a high of $12, with a standard deviation of $1.73, indicating variability in estimates. The lowest estimate suggests a decline of 1.8%, while the highest points to a 47.2% upside [2]. - A low standard deviation among price targets suggests strong agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [9]. Earnings Estimates and Analyst Optimism - Analysts have shown growing optimism regarding SKYT's earnings prospects, as indicated by a positive trend in earnings estimate revisions. This trend has a strong correlation with near-term stock price movements [11]. - Over the last 30 days, two earnings estimates for SKYT have been revised upward, leading to a 20.8% increase in the Zacks Consensus Estimate [12]. Zacks Rank and Investment Potential - SKYT holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, which further supports its potential for upside [13].