ServiceNow Unusual Options Activity For August 15
Portfolio Pulse from Benzinga Insights
Significant options activity has been detected for ServiceNow (NYSE:NOW), with a majority of the trades being bearish. This unusual activity suggests that large investors are anticipating a potential decline in the stock price. The predicted price range for ServiceNow over the next three months is between $730.0 and $860.0. Despite this, analysts maintain a generally positive outlook on the stock with various buy and outperform ratings.
August 15, 2024 | 3:46 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
ServiceNow has seen significant bearish options activity, indicating that large investors may be expecting a decline in the stock price. The predicted price range for the next three months is between $730.0 and $860.0. Despite this, analysts maintain positive ratings with target prices ranging from $820 to $911.
The detection of significant bearish options activity suggests that large investors are anticipating a decline in ServiceNow's stock price. This is a strong indicator of potential short-term downward movement. However, the positive analyst ratings provide some counterbalance, indicating a mixed sentiment overall.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100