FedEx Stock Pops After Beat-and-Raise

Analysts and options traders are weighing in on the results

Deputy Editor
Mar 17, 2023 at 10:40 AM
facebook twitter linkedin

FedEx Corporation (NYSE:FDX) stock is soaring today, after the company posted better-than-expected fiscal third-quarter earnings. The shares were last seen up 8.2% to trade at $220.77.

The delivery concern shared earnings of $3.41 per share, easily besting analysts' estimates of $2.73 per share. Though revenue of $22.17 billion was slightly below forecasts, FedEx raised its 2023 earnings outlook after noting its cost-cutting efforts are offsetting weak demand.

Options traders are responding the the results, with call volume running at 14 times the average intraday amount. Already today, more than 38,000 bullish bets and 29,000 puts have crossed the tape. Positions are being opened at the most popular contract -- the March 230 call.

At least nine brokerages raised their price targets on FDX. BofA Global Research hiked its price objective to $305 from $233, while J.P. Morgan Securities moved to $233 from $199.

On the charts, FedEx stock is trading at its highest level since late August. And though the equity is down 3% over the last 12 months, it now sports a nearly 30% year-to-date lead.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners