Options Traders Are All Over Costco Stock Today

No fewer than nine analysts hiked their price targets

Deputy Editor
Sep 27, 2023 at 10:39 AM
facebook X logo linkedin

Costco Wholesale Corporation (NASDAQ:COST) stock is higher this morning, after a better-than-expected fiscal fourth-quarter earnings report. The club retailer reported profits of $4.86 per share on revenue of $78.94 billion, both of which beat estimates. Comparable sales, however, rose just 0.2%.

Last seen up 1.6% at $561.85, options traders are all over Costco stock. In fact, overall options volume is already running at seven times the intraday average today.  Positions are opening at the weekly 9/29 570-strike call, which is the most popular contract today.

COST is also enjoying no fewer than seven price-target hikes that followed this quarterly win. TD Cowen raised its target price all the way to $680 from $600, while D.A. Davidson went with a much more modest $570 price objective.

The 12-month consensus target price of $586.84 is a 4.9% premium to current levels. Covering brokerages are optimistic on Costco stock, with 20 of 26 recommending a "buy" or better, and not a single "sell" on the books.

On the charts, the equity is facing off with closing pressure from the $560 level. In addition, COST has failed to close above its 10-day moving average in roughly a week, but is today set to topple the stubborn trendline. COST is up 23% in 2023. 


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