Tepid Full-Year Forecast Sends Walgreens Stock Lower

The equity has failed to make much headway on the charts

Digital Content Manager
Mar 31, 2022 at 9:04 AM
facebook X logo linkedin

The shares of blue-chip pharmaceutical name Walgreens Boots Alliance Inc (NASDAQ:WBA) are down 2.6% at $46 this morning, even after the company reported a top- and bottom-line beat for its fiscal second-quarter. WBA cited high demand for its Covid-19 tests and vaccines during this winter's omicron variant wave. Walgreens decided to maintain its 2022 outlook, which could be weighing on the stock this morning, adding that it expects low single-digit profit growth for the year.

The stock's 180-day moving average continues to keep a tight lid on the shares, as it's done since WBA's mid-February plummet. The equity is looks ready to turn in a roughly 9% drop for its first quarter of 2021, and it's lost over 10% in the past 12 months. 

The brokerage bunch has remained relatively quiet, though the sentiment surrounding WBA was already lukewarm. Of the 21 analysts in coverage, 17 say "hold," compared to just one "strong buy," and three "sell" ratings. Meanwhile, the 12-month consensus price target of $53.43 is a 14.9% premium to last night's close. 

In the options pits, short-term traders have been slightly put-biased than usual. This is per WBA's Schaeffer's put/call open interest ratio (SOIR) of 0.69, which sits higher than 72% of readings from the past year.


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 C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI