Lazard ( (LAZ) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Easter Sale - 70% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Lazard shares are rebounding after a month-long slide as investors rush back into the stock, viewing it as oversold amid easing worries over geopolitical tensions and interest rates. The move looks like a classic relief rally, with buyers stepping in at what they see as a bargain valuation.
The recovery is also being fueled by fresh optimism over Lazard’s business, after the firm reported $4.2 billion in net inflows in February, lifting assets under management to $277.7 billion. Bullish analyst upgrades, including from Citi, have added further momentum to the turnaround in sentiment around the stock.
More about Lazard
YTD Price Performance: -17.22%
Average Trading Volume: 1,223,397
Technical Sentiment Signal: Sell
Current Market Cap: $3.74B
For further insights into LAZ stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.