Looking At Adobe's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant number of investors have taken a bearish stance on Adobe (NASDAQ:ADBE), with 70% of recent unusual options trades being bearish. The trades range from $420.0 to $560.0. Adobe's stock price is currently down 0.5% at $507.36. Analysts from BMO Capital, Evercore ISI Group, and Piper Sandler maintain an Outperform rating on Adobe, with price targets ranging from $605 to $650. RBC Capital and HSBC have downgraded their ratings to Outperform and Hold respectively, with price targets of $615 and $519.
October 02, 2023 | 4:16 pm
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NEUTRAL IMPACT
Adobe has seen a significant number of bearish options trades recently. Despite this, several analysts maintain an Outperform rating on the company, with price targets significantly higher than the current stock price.
The bearish options trades suggest that some investors expect Adobe's stock price to decrease. However, the Outperform ratings and high price targets from analysts suggest that they expect the company to perform well. This mixed sentiment makes it difficult to predict the short-term impact on Adobe's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100