What the Options Market Tells Us About ServiceNow
Portfolio Pulse from Benzinga Insights
ServiceNow (NYSE:NOW) has seen significant options market activity, indicating a bearish stance by large investors. Benzinga's options scanner revealed 9 trades, with a sentiment split of 22% bullish and 77% bearish. The trades target a price range of $600 to $980 for ServiceNow. The company's stock is currently trading at $802.51, with a volume of 100,741 and may be overbought according to RSI readings. Earnings are expected in 75 days, and professional analysts have set an average price target of $851, with ratings ranging from Overweight to Buy.
February 09, 2024 | 3:16 pm
News sentiment analysis
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NEGATIVE IMPACT
ServiceNow has seen bearish options activity, with a price target range of $600 to $980. Currently trading at $802.51, it may be overbought. Analysts have set an average price target of $851.
The bearish options activity indicates large investors' negative outlook, potentially impacting ServiceNow's stock price in the short term. The current overbought condition and the anticipation of earnings release could further influence stock movement. Analysts' positive price targets provide a contrasting view but may not immediately counteract the bearish sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100