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Ethereum (ETH) has reached a 20-month high, surging 4% in the past 24 hours, driven by increased NFT trading volumes and a rise in validators. The asset's one-year gain stands at 75%, with trading volumes of NFTs on Ethereum hitting $147.3 million in a recent week, the highest since late February 2023. The growth is partly attributed to the Pudgy Penguins NFT collection. Ethereum also saw an inflow of $16.5 million in the first week of February and a spike in validator queue to 7,045, the highest since October 2023. The total value locked in Ethereum's smart contracts is at $40.7 billion, the highest since June 2022. Franklin Templeton has applied for a spot Ethereum ETF, and traders predict Ethereum could reach over $8,000, potentially triggering an altcoin season.

Portfolio Pulse from Khyathi Dalal

February 13, 2024 | 4:30 pm

JPM

Analysis of JPMorgan Chase's (NYSE:JPM) options market reveals a bearish sentiment among traders, with 69% showing bearish tendencies and 30% bullish. Unusual trading activity includes 13 trades, with a notable preference for puts over calls. The options market targets a price range of $135.0 to $185.0 for JPM over the next 3 months. JPMorgan Chase, a major financial institution with nearly $4 trillion in assets, saw its stock price decrease by -0.84%, reaching $174.32. The next earnings report is scheduled in 59 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:16 pm

MELI

Benzinga's options scanner revealed significant activity in MercadoLibre (NASDAQ:MELI) options, with a bullish sentiment among big-money investors. A total of 23 unusual options trades were detected, with a split sentiment of 52% bullish and 47% bearish. The trades indicate a price target range for MELI between $1030.0 and $1800.0. The trading volume for MELI was 98,493, with the stock price down by -2.85%, currently at $1683.75. An earnings announcement is expected in 13 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:01 pm

MRVL

Marvell Tech (NASDAQ:MRVL) has delivered an average annual return of 15.94% over the past 10 years, outperforming the market by 5.55%. An investment of $100 in MRVL a decade ago would be worth $438.87 today, with the company currently valued at a market capitalization of $58.44 billion.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:00 pm

ELF

e.l.f. Beauty (NYSE:ELF) has significantly outperformed the market with an average annual return of 78.36% over the past 5 years, turning a $100 investment into $1,810.77. The company now has a market capitalization of $9.23 billion.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:00 pm

AAPL

The article provides an in-depth analysis of Apple Inc. (AAPL) compared to its competitors in the Technology Hardware, Storage & Peripherals industry. It highlights Apple's financial metrics, market position, and growth prospects, noting its lower PE ratio, higher PB and PS ratios, exceptional ROE, EBITDA, and gross profit, but lower revenue growth compared to the industry average. The analysis suggests Apple may be undervalued based on its PE ratio, but its high PB and PS ratios indicate the market's willingness to pay a premium for its assets and sales.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 4:00 pm

PANW

Palo Alto Networks (NASDAQ:PANW) has seen unusual options activity, with a bullish sentiment from deep-pocketed investors. Benzinga's options scanner revealed 18 extraordinary activities, with 61% bullish and 38% bearish sentiment. The significant trading range for PANW is between $150.0 and $390.0. The most notable options include bullish and neutral calls and a bullish put, with the highest trade price for a call at $360.00 strike price. PANW's stock is currently down -3.52% at $358.88, with potential overbought indicators and earnings expected in 7 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:46 pm

ZS

Financial giants have shown a bearish sentiment towards Zscaler (NASDAQ:ZS), with options trading analysis revealing 56% bearishness. The trading activity suggests a targeted price range for ZS between $180.0 and $260.0. Notable options activity includes both bearish and bullish trades, with a significant volume and open interest in options. Zscaler, a SaaS firm specializing in cybersecurity, has seen its stock price decrease by -4.87%, with an earnings announcement expected in 16 days.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:46 pm

ANET

CDNS

GLD

KO

QQQ

SPY

Inflation data came in hotter than expected, causing a slight pullback in the stock market, as represented by SPDR S&P 500 ETF Trust (SPY). Momo gurus are pushing a narrative that stocks will rise despite persistent inflation, citing it as a one-off event. Earnings from AI companies Arista Networks (ANET) and Cadence Design Systems (CDNS) were below expectations, impacting AI stocks negatively. Conversely, Coca-Cola (KO) reported better-than-expected earnings. Early trade shows negative money flows in major tech stocks and ETFs like SPY and Invesco QQQ Trust Series 1 (QQQ), with the momo crowd buying and smart money selling stocks. Gold, represented by SPDR Gold Trust (GLD), is under pressure due to the hotter CPI, while Bitcoin remains range-bound.

Portfolio Pulse from The Arora Report

February 13, 2024 | 3:45 pm

SQ

Deep-pocketed investors have shown a bullish sentiment towards Block (NYSE:SQ), with options market activity indicating a focus on a price band between $35.0 and $85.0. The options scanner at Benzinga highlighted 18 significant activities, with a majority being bullish. The largest trades include both calls and puts with sentiments ranging from bullish to bearish. Block's current trading volume is 3,297,513, with a price decrease of -4.31%, and an RSI indicating a neutral position. Analysts have issued varying ratings, with a consensus target price of $88.0.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:45 pm