Looking At Cloudflare's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Cloudflare (NYSE:NET) has seen unusual options activity indicating a bullish stance by big-money investors, with a mix of 54% bullish and 45% bearish sentiment. The activity includes 22 uncommon trades, with a focus on calls over puts, suggesting a price target range of $80 to $125. Current trading volume and RSI suggest the stock may be approaching overbought territory. Analyst ratings in the last month show a mixed outlook with an average target price of $106.4.
March 07, 2024 | 8:30 pm
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Unusual options activity in Cloudflare indicates a bullish sentiment among big-money investors, with a price target range of $80 to $125. Mixed analyst ratings provide an average target price of $106.4.
The unusual options activity, particularly the predominance of call options, suggests optimism among investors about Cloudflare's future price movement. The mixed analyst ratings, while varying, contribute to a cautiously optimistic outlook. The specific mention of a price target range by big-money investors and the current trading volume and RSI readings provide concrete data points indicating a potential short-term price increase.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100