Analysts Cool on Yeti, Spotify Stocks

Call buying has been popular on Yeti

Mar 29, 2019 at 10:51 AM
facebook X logo linkedin

Two stocks that may hold an appeal with the younger generation were met with downbeat attention from the analyst community today. Specifically, music streaming giant Spotify Technology SA (NYSE:SPOT) and high end cooler maker Yeti Holdings Inc (NYSE:YETI) are struggling on the charts today following bearish brokerage notes.

For SPOT, the shares are slightly lower at $137.39, after Credit Suisse began coverage with an "underperform" rating and $120 price target. The firm believes long-term expectations are too high for the company, and the competition from names like Apple, Amazon, and YouTube will make it difficult to meet subscriber growth forecasts.

Most of Wall Street is bullish on Spotify stock. There are 21 brokerages in coverage, and 15 of them say to buy the shares. Moreover, the average 12-month price target stands up at $164.48, almost 20% above current trading levels. The equity traded as high as $198.99 back in July.

YETI stock, meanwhile, was cut to "equal-weight" from "overweight" at Morgan Stanley, which said all the positive news around the shares is now priced in. This comes after the security has more than doubled in the past three months, topping out at $34.43 yesterday. Morgan Stanley did, however, up its price target to $32 from $26. Yeti was last seen trading down 7.1% on the day at $29.63.

Like Spotify, Wall Street loves YETI, since all 10 analysts have "buy" or "strong buy" endorsements. Options traders have seemingly taken an upbeat view, as well. That is, call buying has outpaced put buying 5,809 to 1,439 during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI