Looking At Palo Alto Networks's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Palo Alto Networks (NASDAQ:PANW) as evidenced by unusual options activity. The sentiment among big-money traders is split between 38% bullish and 61% bearish. Whales have been targeting a price range from $195.0 to $260.0 for Palo Alto Networks over the last 3 months. Keybanc maintains an Overweight rating on PANW with a price target of $315, while JMP Securities and HSBC have downgraded their actions with price targets of $300 and $242 respectively.
October 24, 2023 | 5:00 pm
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Unusual options activity indicates a bearish stance on Palo Alto Networks. The sentiment among big-money traders is 61% bearish. Keybanc maintains an Overweight rating on PANW with a price target of $315.
The unusual options activity, with a majority bearish sentiment among big-money traders, indicates a potential downward pressure on PANW's stock price in the short term. However, the Overweight rating from Keybanc suggests a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100