Looking At Spotify Technology's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Spotify Technology (NYSE:SPOT) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 40% bullish and 60% bearish. The price range targeted by these investors for Spotify over the last 3 months is $135.0 to $165.0. Barclays maintains an Overweight rating on Spotify with a price target of $182, while Deutsche Bank upgraded its action to Buy with a price target of $180. However, Credit Suisse and Morgan Stanley have downgraded their actions to Neutral and Overweight respectively, with price targets of $120 and $185.
August 24, 2023 | 5:01 pm
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Unusual options activity indicates a significant bearish stance on Spotify Technology (NYSE:SPOT). The sentiment among big-money traders is 40% bullish and 60% bearish. Analysts have mixed ratings on the stock.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting Spotify's stock price to decrease. This could potentially lead to a short-term downward pressure on the stock. Additionally, the mixed analyst ratings add uncertainty to the stock's outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100