This Is What Whales Are Betting On Shopify
Portfolio Pulse from Benzinga Insights
A significant bullish stance has been taken on Shopify (NYSE:SHOP) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 70% bullish and 30% bearish. The whales have been targeting a price range from $58.0 to $80.0 for Shopify over the last 3 months. Jefferies has maintained their Hold rating on Shopify with a price target of $65, while JMP Securities downgraded its action to Market Outperform with a price target of $70.
June 30, 2023 | 3:31 pm
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A large investor has taken a bullish stance on Shopify, indicating potential positive price movement. Analysts have mixed opinions, with Jefferies maintaining a Hold rating and JMP Securities upgrading to Market Outperform.
The unusual options trading activity indicates that a large investor is expecting Shopify's stock price to rise. This bullish sentiment, combined with the mixed analyst ratings, suggests potential for positive price movement in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100