A Closer Look at Ulta Beauty's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
Investors have taken a bearish stance on Ulta Beauty (NASDAQ:ULTA) as indicated by recent options market activity. Benzinga's options scanner detected 14 uncommon trades, with a majority being puts. The overall sentiment is split, with 42% bearish and 28% bullish. Significant investors are targeting a price range of $360 to $500. The stock is currently down by 1.83%, trading at $379.44, and is potentially oversold. Analysts have mixed ratings, with price targets ranging from $350 to $476.
May 21, 2024 | 4:45 pm
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Recent options market activity shows a bearish sentiment towards Ulta Beauty, with 42% of trades being bearish. The stock is currently down by 1.83%, trading at $379.44, and is potentially oversold. Analysts have mixed ratings with price targets ranging from $350 to $476.
The detection of significant bearish options trades suggests that investors expect the stock to decline in the short term. The mixed analyst ratings and the current oversold condition further support a cautious outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100