Looking At Snap's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown unusual bullish activity in Snap Inc. (NYSE:SNAP) options, with a significant volume of trades suggesting a target price range of $9.0 to $20.0. The activity includes both calls and puts, with a slight majority being bullish. Snap, known for its social networking app Snapchat, is currently trading at $10.76, with market experts having a consensus target price of $13.8. Analyst ratings vary, with Deutsche Bank giving a Buy rating with a target of $19, while Morgan Stanley maintains an Underweight rating with a target of $11.
February 23, 2024 | 4:31 pm
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POSITIVE IMPACT
Snap Inc. sees unusual options activity with a bullish sentiment among investors, suggesting a potential price movement. Current trading price is $10.76 with a consensus target price of $13.8 among analysts.
The unusual options activity, particularly the bullish sentiment among investors, indicates a positive outlook for SNAP's stock price in the short term. The consensus target price of $13.8 by market experts further supports this potential upward movement. However, the mixed analyst ratings introduce some uncertainty, hence the importance and confidence scores are not at the maximum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100