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Meta Platforms Inc.'s recent outage, affecting Facebook, Instagram, and Messenger, has spotlighted the growing mistrust in tech companies' cybersecurity capabilities. This incident, coupled with a recent discovery of an unprotected database affecting Meta and Alphabet Inc.'s Google, underscores the vulnerabilities in current multi-factor authentication methods. Cybersecurity expert Al Lakhani criticized Facebook's authentication approach as weak. The event aligns with a broader decline in trust towards technology companies, as highlighted in a report by Edelman. Meanwhile, cybersecurity stocks like Palo Alto Networks Inc. and CrowdStrike Holdings Inc. have shown volatile performance, with the First Trust NASDAQ Cybersecurity ETF (CIBR) experiencing fluctuations.

Portfolio Pulse from Neil Dennis

March 06, 2024 | 3:32 pm

LYFT

Deep-pocketed investors have shown a bullish sentiment towards Lyft (NASDAQ:LYFT), with a notable surge in options activity reported by Benzinga. The activity includes 11 extraordinary options trades, with a bullish majority of 63% and a bearish minority of 36%. The trades span a price target range of $15.0 to $28.0 for the next three months. Lyft's current market performance shows a 2.43% increase in stock price to $17.27, with analysts providing mixed reviews and target prices ranging from $13 to $20.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:31 pm

XOM

Exxon Mobil (NYSE:XOM) has seen significant options trading activity, with a bearish sentiment prevailing among financial giants. Analysis of recent trades shows 66% bearish versus 33% bullish sentiment, with notable trades in both puts and calls aiming for a price range of $105.0 to $115.0. The largest trades include both bearish calls and bullish puts, indicating mixed expectations. Exxon Mobil, a leading oil and gas company, is currently trading at $106.72, with potential overbought signals and an upcoming earnings release in 51 days.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:31 pm

COST

Costco Wholesale Corp (NASDAQ:COST) is set to report its Q2 earnings on March 7, with Wall Street expecting $3.62 EPS and $59.16 billion in revenues. The stock has seen over 60% growth in the past year and over 15% since the beginning of 2024. Technical analysis shows a bullish trend with the stock price above its EMAs and SMAs, despite potential overbought risks indicated by the RSI. Analyst consensus rates COST as a Buy with a price target of $618.10.

Portfolio Pulse from Surbhi Jain

March 06, 2024 | 3:30 pm

PSTG

Pure Storage's stock (PSTG) is experiencing an uptick following Needham's initiation of coverage with a Buy rating and a $66 price target.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:29 pm

SE

Sea shares have experienced an increase in trading volume and price after Morgan Stanley reaffirmed its Equal-Weight rating on the stock and increased the price target from $47 to $65.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:27 pm

TGT

Target's stock price increased as several analysts upgraded their price targets for the company after its earnings report on Tuesday.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:20 pm

PSTG

Pure Storage Inc (NYSE:PSTG) received a bullish analysis from Needham's Mike Cikos, who highlighted the company's 'durable competitive advantage' due to its Purity operating system. Cikos initiated coverage with a Buy rating and a price target of $66, citing the system's efficiency and the company's innovative approach in the storage market. PSTG shares rose 3.62% to $56.90 following the upbeat fourth-quarter results and positive analyst forecasts.

Portfolio Pulse from Priya Nigam

March 06, 2024 | 3:17 pm

FCFS

FirstCash Hldgs (NYSE:FCFS) has seen a 4.0% increase in its short percent of float, now at 1.3% with 388 thousand shares sold short. It would take about 1.71 days to cover these short positions. This rise in short interest can indicate a bearish market sentiment towards FCFS, although it has less short interest compared to its peers' average of 8.53%. The increase in short interest doesn't necessarily predict a price drop but signals increased shorting activity.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:15 pm

FICO

Fair Isaac Corporation (NYSE:FICO) has seen a decrease in short interest, now at 2.93% of its float, lower than its peer group average of 3.67%. This reduction from 552 thousand shares suggests a more bullish sentiment among traders, despite not guaranteeing a near-term price rise. The coverage time for short positions based on trading volume is approximately 3.37 days.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:15 pm