This Is What Whales Are Betting On Costco Wholesale
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish sentiment towards Costco Wholesale (NASDAQ:COST), with 80% of unusual trades being puts. The options trading suggests a price target range of $575 to $785. Despite this, analysts have mixed views, with an average price target of $744, but individual targets range from $650 to $800. Costco's current trading price is $706.36, with a slight downtrend of -0.69% and an upcoming earnings announcement in 34 days.
April 19, 2024 | 3:02 pm
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NEGATIVE IMPACT
Bearish options trading activity observed, with a significant number of puts. Analysts have a mixed outlook, with an average target of $744, despite the current slight downtrend in price.
The bearish sentiment from financial giants, indicated by the predominance of puts in trading activity, suggests a short-term negative impact on COST's stock price. However, the mixed analyst ratings and the upcoming earnings announcement could introduce volatility. The current slight downtrend further supports the short-term negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100