2 of the Hottest Stocks on the Street This Morning

Analysts seemed hesitant to set even higher price targets on BYND

Jun 7, 2019 at 10:19 AM
facebook X logo linkedin


Two stocks to watch today are marketing software specialist HubSpot Inc (NYSE:HUBS) and current Wall Street darling Beyond Meat Inc (NASDAQ:BYND). For HUBS shares, it's a new "buy" rating at Goldman Sachs that has them trading up 3.9% at $175.58. The brokerage firm also set a monster $223 price target, representing upside of nearly 32% from Thursday's closing price of $169.05.

Twelve of the 19 brokerage firms in coverage on the equity have "strong buy" or "buy" ratings already in place, and there's also been a heavy bullish bias at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). HubSpot's 10-day call/put volume ratio across these exchanges is 6.19, ranking in the 97th annual percentile. Peak open interest resides at the front-month June 185 call, followed by the June 190 call. The security has been a winner, up 40% in 2019.

BYND, meanwhile, is apparently the greatest stock of all time. Maybe that's taking it a bit too far, but the shares continue to find ways to run up the charts. Today the plant-based protein specialist is watching its stock jump 25.3% to $125.95, after the company said it expects sales to double in 2019 -- confirming recent reports about strong demand.

While there's been some bullish analyst attention, none of the firms that raised their price targets set a target above where Beyond Meat is trading now. Some options traders seem to have a short-term ceiling in their sights, since data suggests sell-to-open activity is taking place this morning at the weekly 6/7 130-strike call. The shares traded up to $135.80 earlier, an all-time high.
 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!