The SPDR S&P 500 ETF Trust (SPY) tracks the S&P 500 Index (SPX) and consists of over 500 large-cap U.S. stocks across a broad range of market sectors. The SPY ETF stock has advanced about 15% year-to-date thanks to the artificial intelligence (AI) rally, and remarkably, Wall Street’s top analysts see further upside potential. Moreover, based on technical indicators, SPY is a Buy near its current levels.
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SPY ETF’s Technical Indicators
According to TipRanks’ technical analysis tool, the SPY ETF stock’s 50-Day EMA (exponential moving average) is 419.94, while SPY’s price is $432.70, making it a Buy. Further, the shorter-duration EMA (20-Day) also signals a Buy.
Meanwhile, its RSI (Relative Strength Index) is 60.64, implying a Neutral signal. At the same time, the SPY ETF’s price rate of change (ROC) of 1.61 points to a bullish trend.
Overall, in the one-day time frame, the SPY ETF stock is a Buy, based on TipRanks’ easy-to-read technical summary signals. This is based on 11 Bullish, six Neutral, and five Bearish signals.
Is SPY a Buy, According to Analysts?
Out of the 4,290 top analysts who rated the SPY ETF’s holdings in the past three months, 60.84% assigned a Buy rating, 34.36% suggested a Hold, and 4.8% have given a Sell rating. Overall, top analysts have a Moderate Buy consensus rating on the SPY ETF. Moreover, at $482.76, the average SPY stock price target based on these recommendations implies upside potential of 11.6% at present.
It is noteworthy that these top analysts have an impressive history of helping investors generate massive returns from their recommendations. Moreover, each analyst has a remarkable success rate.
Ending Thoughts
Impressively, SPY has delivered an average annualized return of 12.1% in the past decade (as of March 2023), and the ETF’s rock-bottom expense ratio of 0.09% makes it even more appealing. Investors looking for exposure to some of its key holdings, including Apple (AAPL), Tesla (TSLA), and JPMorgan Chase (JPM), may want to consider the ETF.
