Decoding ServiceNow's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bullish sentiment towards ServiceNow (NYSE:NOW), with options activity indicating a focus on a price range between $600 and $1000. The analysis of options activity reveals a 60% bullish and 40% bearish sentiment among investors. Significant trades include both calls and puts, with a notable emphasis on calls. ServiceNow's current market performance shows a 1.0% increase in stock price to $766.75, with an upcoming earnings report in 20 days. Market experts have issued a consensus target price of $880 for NOW, with varying opinions from analysts at Stifel and Keybanc.
April 04, 2024 | 2:19 pm
News sentiment analysis
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ServiceNow shows bullish options activity with a focus on $600-$1000 range. Stock price up 1.0% to $766.75, with analysts targeting $880.
The bullish sentiment among deep-pocketed investors, highlighted by the options activity, suggests a positive outlook for ServiceNow's stock price in the short term. The current increase in stock price and the consensus target price of $880 by market experts further support this positive sentiment. The upcoming earnings report could be a significant catalyst for the stock price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100