Salesforce's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Salesforce (NYSE:CRM) has seen a mix of bullish and bearish options trading, with a significant volume of trades predicting a price range of $160 to $290. Recent trades include both calls and puts, with a notable interest in strikes from $160 to $280. The company's stock is currently down by -2.47% at $268.92, potentially oversold, with an earnings release expected in 29 days. Analysts have set an average price target of $349.4, with varying ratings from Outperform to Buy.
April 30, 2024 | 8:46 pm
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Salesforce's mixed options trading activity and analyst ratings suggest a bullish sentiment, despite the current stock price dip. With an earnings release on the horizon, the stock may see increased volatility.
The mix of bullish and bearish options trading, combined with the current dip in stock price, suggests that investors are positioning for a potential rebound, especially in light of the upcoming earnings release and the average analyst price target significantly above the current trading price. This scenario indicates a short-term bullish outlook for CRM, assuming the earnings report aligns with or exceeds market expectations.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100