BBRY, VEEV, ULTA Stocks Moving Today

Cloud stock VEEV is extending its long-term uptrend thanks to better-than-expected earnings

May 26, 2017 at 2:19 PM
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The Dow continues to hang around breakeven in afternoon trading. Among the stocks making big moves are tech stock BlackBerry Ltd (NASDAQ:BBRY), cloud-based software specialist Veeva Systems Inc (NYSE:VEEV), and cosmetics retailer Ulta Beauty Inc (NASDAQ:ULTA). Here's a quick look at what's moving shares of BBRY, VEEV, and ULTA.

BBRY Stock Hits New High After QUALCOMM Settlement

BlackBerry stock earlier hit a two-year high of $11.55, but was last seen 0.7% lower at $11.14, following news QUALCOMM will pay the company $940 million to settle a royalties dispute. BBRY stock has been hot in recent weeks, sparking the interest of options traders in the process. In fact, during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), more than five BBRY calls have been purchased to open for every put. 

VEEV Stock Burns Short Sellers After Earnings Beat

Impressive first-quarter earnings and an upbeat full-year outlook have Veeva Systems stock up 7.3% at $66.24. Several brokerage firms have weighed in, with BofA-Merrill Lynch raising its opinion to "buy" from "neutral," and lifting its price target by nearly 46%, to $70 from $48. The shares -- which earlier hit a record high of $67.84 -- have more than doubled year-over-year, dashing the hopes of short sellers in the process. Specifically, these bears control 8.8 million shares of VEEV stock, which equates to nearly two weeks' worth of buying power, going by average daily volumes. 

ULTA Stock Stays Hot Following Strong Earnings

Ulta stock is also rallying thanks to a strong earnings report. The shares earlier touched a record high of $310, and were last seen up 3.5% at $303.39. Year-to-date, ULTA stock has picked up 19%, and analysts believe more upside is to come. Since yesterday's close, no fewer than four brokerage firms have raised their price targets on the shares, with the highest mark of $360 coming from Telsey Advisory Group. At the same time, Buckingham Research downgraded Ulta shares to "neutral" from "buy." This mixed reception is par for the course, though, since nine analysts rate the equity a "strong buy," while the other eight maintain tepid "hold" recommendations. 

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