Weekly Recap | Tuya +1.78%, consensus target above spot

The Week

Tuya (TUYA) gained 1.78% this week to close at $1.72, outperforming the S&P 500 by about 0.63 percentage points. The week started soft with a drop to $1.67 on Monday, before a volume-led bounce to $1.73 on Tuesday. Wednesday printed the high of the week at $1.75, but the stock faded from there and spent Thursday and Friday trading in a narrow $1.70-$1.72 range. Weekly amplitude was 4.73% and average daily volume ran about 30% below its recent median, signalling a mild up move rather than a broad-based rally. No major company news hit during the week, and the stock remains below its 60-day moving average of $1.761.

Analyst Ratings

All four brokers covering Tuya rate it buy or overweight: three buys and one overweight, with no hold, underweight or sell ratings. The consensus rating is strong buy. The consensus target is $3.1675, about 84.16% above the latest close of $1.72, with individual targets ranging from $2.70 to $3.87, a wide spread. Within the application software industry, Tuya ranks 120th out of 203 names, in the lower half of the peer group.

The Week Ahead

Next week brings a dense US macro calendar. CPI and core CPI land on Wednesday, 14 October, with core inflation expected to edge up to 2.5% year-on-year. The NFIB small business optimism index and existing home sales follow on Tuesday, 13 October. Tuya itself has no scheduled earnings or major events, so the focus shifts to whether the stock can hold support near $1.69 and continue its crawl toward the 20-day moving average.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.