NVIDIA, GrubHub Stocks Flirt With Record Highs

A short squeeze could add fuel to GRUB stock's fire

Managing Editor
Aug 7, 2017 at 10:02 AM
facebook twitter linkedin

Analysts are weighing in on chip name NVIDIA Corporation (NASDAQ:NVDA), food delivery service GrubHub Inc (NYSE:GRUB), and UGG maker Deckers Outdoor Corp (NYSE:DECK). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, GRUB, and DECK.

NVDA Stock Flirts With Record Highs Ahead Of Earnings

NVDA stock is up 1.4% to trade at $169.59, after B. Riley raised its price target on the chipmaker to $200 from $135 -- in uncharted territory. NVIDIA stock is up 190% year-over-year, and touched a record high of $170.07 on Friday. The shares could be poised for higher highs later this week following the company's earnings release on Thursday.

Analysts are decidedly split over NVDA stock. Of the 27 brokerages covering NVDA, 11 still rate it a "hold" or worse, leaving the door open for upgrades that could send the shares even higher.

Upgrade Sends GrubHub Stock to New Highs

GrubHub stock is up 3.9% to trade at $54.63 -- and just touched an all-time high of $55.65 -- after Morgan Stanley upgraded the food delivery stock to "overweight" from "equal weight," while also upping its price target to $59 from $43. The upgrade comes fresh off the heels of GrubHub's earnings release last week, and plans to buy Yelp's Eat 24 business. GRUB stock has tacked on 45% year-to-date.

Despite short interest decreasing by 3.8% during the last reporting period, over 18 million shares of GRUB are sold short, accounting for a whopping 30% of the stock's total available float. A continued short squeeze could send GRUB stock to new heights, as it would take more than 12 sessions to buy back these bearish bets, at the equity's average pace of trading. 

Deckers Stock Edges Higher After Price-Target Boost

Deckers Outdoor stock is up 0.2% to trade at $64.26, after Morgan Stanley raised its price target to $61 from $59 -- however, the new target still represents a discount to DECK's current price. The shares have pulled back 11.6% since peaking at $72.71 in early June, but have found support lately at their 80-day moving average, which is now in the vicinity of Deckers' post-earnings bull gap in May. Analysts remain on the fence, however. Of the 12 brokerages covering DECK stock, nine rate it a "hold."

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners