2 of the Hottest Stocks on the Street This Morning

Analysts seemed hesitant to set even higher price targets on BYND

by Josh Selway

Published on Jun 7, 2019 at 10:19 AM

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.

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