LVGO Shakes Off Analyst Warning, Eyes Fresh Highs

J.P. Morgan Securities downgraded Livongo to "neutral" from "overweight"

Digital Content Manager
Oct 14, 2020 at 9:22 AM
facebook X logo linkedin

Telehealth name Livongo Health Inc (NASDAQ:LVGO) is up 0.8% at $149.30 this morning, in a valiant effort to push past a downgrade from J.P. Morgan Securities. The analyst knocked its rating down to "neutral" from "overweight," predicting that competitor Teladoc (TDOC) will eventually sweep the market. However, the broker did bestow LVGO with a hefty price-target hike -- all the way to $150 from $80 -- which could be contributing to some of this morning's upside. 

Though the shares of LVGO have actually been consolidating right below the $150 mark for months, the security looks ready to grab its highest close on record, should some of these gains hold. The stock has been on a roll lately, stringing together eight consecutive monthly wins, with solid support at the 10- and 50-day moving averages. 

A look back at analyst coverage shows most were optimistic coming into today, with nine at a buy or better, and just three saying "hold." A couple more price-target hikes could be on the horizon though. The 12-month consensus price target of $126.18 is a 14.8% premium to last night's close. 

Short sellers are starting to hit the exits, too, with short interest down 3.2% in the last reporting period. There's still plenty of pent-up pessimism to be unwound, however. The 10 million shares sold short make up 17.6% of the stock's available float, and would take almost three days to cover, at its average daily pace of trading. 


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