Red Violet

Summary

Red Violet (RDVT) demonstrates strong price momentum, with a recent Trend Seeker 'Buy' signal and a 43.95% gain over the past 52 weeks.

RDVT trades at a premium valuation (62.61x trailing P/E), but is profitable and forecasted for 18.34% revenue and 25.77% earnings growth this year.

Analyst sentiment is positive: 2 'Strong Buy', 1 'Hold', with price targets ranging from $73 to $85 and a consensus near $77.

Despite being seen as slightly overvalued by Morningstar, RDVT maintains robust technical support and broad investor interest, supporting its current upward trajectory.

Today’s Featured Stock

Valued at $1.18 billion, Red Violet RDVT is a software and services company. It specializes in big data analysis, providing cloud-based, mission-critical information solutions to enterprises.  

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. RDVT checks those boxes. The Trend Seeker issued a new “Buy” signal on July 29. Since then, the stock has gained 8.11%.

RDVT (Barchart)

Barchart’s Technical Indicators for Red Violet

Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Red Violet scored an all-time of $74.83on Aug. 29.

• Red Violet has a Weighted Alpha of 56.78.

• RDVT has a 100% “Buy” opinion from Barchart.

• The stock has gained 43.95% over the past 52 weeks.

• Red Violet has its Trend Seeker “Buy” signal intact.

• The stock recently traded at $73.30 with a 50-day moving average of $66.16.

• RDVT had 7 new highs and gained 10.29% in the last month.

• 60-month beta of 1.83.

• Relative Strength Index (RSI) is at 61.73.

• There’s a technical support level around $72.24.

Don’t Forget the Fundamentals

• $1.18 billion market capitalization.

• 62.61x trailing price-earnings ratio.

• Revenue is projected to grow 18.34% this year and another 13.63% next year.

• Earnings are estimated to increase by 25.77% this year and an additional 5.20% next year.

Analyst and Investor Sentiment on Red Violet

• The Wall Street analysts followed by Barchart give the stock 2 “Strong Buy,” and 1 “Hold” opinion with price targets between $73 and $85.

• Value Line rates the stock “Above Average.”

• Morningstar thinks the stock is 6% overvalued with a fair value of $68.77.

• CFRA’s MarketScope rates the stock as “Buy.”

• 5,000 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.”

• TipRanks’ analysts’ price targets are between $73 and $81 with a consensus price target of $77.

• Short interest is 3.72% of the float with 3.24 days to cover the float.

The Bottom Line on Red Violet

While Valuation is a little high, the Company is profitable, has great price momentum and is gathering positive analysts' comments.