Looking At ServiceNow's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ServiceNow (NYSE:NOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 75% bearish and 25% bullish. The targeted price range for ServiceNow over the last 3 months has been $530.0 to $650.0. The current price of NOW is up 2.3% at $553.96. Analysts from Needham, Stifel, RBC Capital, and Jefferies have maintained their Buy or Outperform ratings with price targets ranging from $640 to $665.
August 21, 2023 | 7:00 pm
News sentiment analysis
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NEUTRAL IMPACT
ServiceNow has seen unusual options activity with a significant bearish sentiment. Despite this, analysts maintain positive ratings with high price targets.
The bearish options activity indicates a potential short-term decrease in ServiceNow's stock price. However, the maintained positive ratings and high price targets from analysts suggest a positive long-term outlook. Therefore, the short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100