Gap Stock Pops After Rare Bull Note

The majority of analysts are still bearish on GPS

Deputy Editor
Aug 1, 2023 at 10:55 AM
facebook X logo linkedin

The shares of Gap Inc (NYSE:GPS) are moving higher today, after Barclays upgraded the retail stock to "overweight" from "equal weight," with a price-target hike to $13 from $9. At last glance, GPS was up 2.7% at $10.58. 

Gap stock has been rallying on the charts since late May, adding 13.4% last week. The stock's 200-day moving average is keeping a cap on gains today, however. Year-to-date, the equity is down 5.7%. 

Today's bull note was much needed, as 17 of the 20 in coverage still carry a "hold" or worse rating. The 12-month consensus price target of $10.54 is roughly in line with current levels. It's also worth noting that short interest represents 177.6% of the stock's available float. It would take four days for shorts to cover their bets, at GPS' average pace of trading. 

It's also worth noting the stock's 10-day call/put volume ratio of 11.06 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Not only does that show calls outnumber puts by an 11-to-1 ratio, but that ratio sits higher than 97% of all other readings from the past year, indicating a healthier than usual appetite for these bullish bets over bearish of late. 


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