What the Options Market Tells Us About Accenture
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish sentiment towards Accenture (NYSE:ACN), with a notable volume of trades suggesting expectations for the stock's price to range between $310.0 and $330.0. Analysis of the largest trades reveals a mix of bullish, bearish, and neutral positions. Accenture, a global IT-services firm, has seen its stock price slightly decrease to $313.89. Analysts have varied opinions, with a consensus target price of $400.6, but recent adjustments include a downgrade by Mizuho to Buy with a target of $398.
April 17, 2024 | 5:16 pm
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Accenture's options market activity suggests a bearish sentiment, with a price target consensus among analysts at $400.6 despite a recent downgrade by Mizuho.
The bearish sentiment in the options market, combined with the recent downgrade by Mizuho, suggests potential short-term downward pressure on ACN's stock price. However, the overall high target price from analysts indicates underlying confidence in the company's long-term performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100