What is Driving Comcast Stock Higher?
Comcast stock (NASDAQ: CMCSA) has increased 3.5% in the last one month. If you look at the change in the stock over the last five days and ten days, CMCSA stock and increased on both occasions (2.3% and 3.3%, respectively) and outperformed the S&P 500. The recent rise in the stock was after the company beat market expectations in its Q3 2021 report. Revenue came in at $30.30 billion as against consensus of $29.87 billion while EPS was $0.87/share compared to projections of $0.75/share in the third quarter. The company also added 300,000 high-speed internet customers, higher than expectation of 296,000 additions. Though 408,000 households cut the cord during the third quarter, growth in other major segments and a sharp rebound in advertising revenue has enthused investors.
Now, is CMCSA stock set to rise further or could we expect some correction? We believe that there is a 59% chance of a rise in CMCSA stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. See our analysis on CMCSA Stock Chance of Rise. To see how Comcast stands in comparison to peers, see our analysis on Comcast vs Ad Tech Stocks.
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Twenty-One Day: CMCSA 3.5%, vs. S&P500 6.9%; Underperformed market
(33% likelihood event; 59% probability of rise over next 21 days)
- CMCSA stock increased 3.5% the last twenty-one trading days (one month), compared to a broader market (S&P500) rise of 6.9%
- A change of 3.5% or more over twenty-one trading days is a 33% likelihood event, which has occurred 825 times out of 2516 in the last ten years
- Of these 825 instances, the stock has seen a positive movement over the next twenty-one trading days on 490 occasions
- This points to a 59% probability for the stock rising over the next twenty-one trading days
Ten Day: CMCSA 3.3%, vs. S&P500 2.1%; Outperformed market
(27% likelihood event; 54% probability of rise over next 10 days)
- CMCSA stock increased 3.3% over the last ten trading days (two weeks), compared to a broader market (S&P500) rise of 2.1%
- A change of 3.3 or more over ten trading days is a 27% likelihood event, which has occurred 680 times out of 2516 in the last ten years
- Of these 680 instances, the stock has seen a positive movement over the next ten trading days on 364 occasions
- This points to a 54% probability for the stock rising over the next ten trading days
Five Day: CMCSA 2.3%, vs. S&P500 -0.2%; Outperformed market
(27% likelihood event; 52% probability of rise over next five days)
- CMCSA stock increased 2.3% over a five-day trading period ending 11/10/2021, much higher compared to the broader market (S&P500) decline of 0.2%
- A change of 2.3% or more over five trading days (one week) is a 27% likelihood event, which has occurred 670 times out of 2516 in the last ten years
- Of these 670 instances, the stock has seen a positive movement over the next five trading days on 350 occasions
- This points to a 52% probability for the stock rising over the next five trading days
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