Analysts are weighing in on semiconductor stock Intel Corporation (NASDAQ:INTC), cybersecurity name Qualys Inc (NASDAQ:QLYS), and review site Yelp Inc (NYSE:YELP). Here's a quick roundup of today's bullish brokerage notes on shares of INTC, QLYS, and YELP.
Just a day after Intel stock touched a 17-year high, brokerage firm Independent Research raised its price target to $49 from $40, territory not charted since September 2000. Following a one-month surge of 19.5%, INTC shares settled Tuesday's session at $45.49 -- but their 14-day Relative Strength Index (RSI) is now well into overbought territory at 91. Nevertheless, the shares are up 0.5% ahead of the bell.
Near-term options traders are seemingly bracing for a pullback. That's according to the security's Schaeffer's put/call open interest ratio (SOIR) of 1.19, ranking just 1 percentage point from a 12-month high. This means speculators targeting contracts that expire within three months are unusually put-heavy.
Analysts are calling for higher highs from Qualys stock, as well, following the company's strong third-quarter earnings report. Summit Redstone, for example, upgraded the equity to "buy" from "hold," and raised its price target to $65 from $40. J.P. Morgan Securities topped this by upping its price target to $70 from $55. This represents record-high territory for QLYS, which closed Tuesday at $52.90 -- up 67.1% year-to-date.
Additional bull notes from the analyst community are certainly possible. As it stands now, just five of 14 brokerage firms recommend buying QLYS stock, so tailwinds could be in store if some of these skeptics rethink their outlooks. Ahead of the bell, the shares are up 8.7%, set to open at a new all-time peak.
A price-target hike to $51 from $44 at SunTrust Robinson has Yelp stock edging higher before the open. Last seen trading at $46.72, the shares have rallied 40.6% over the past three months, hitting a two-year high of $47.20 on Monday. An unraveling of short interest could send YELP even higher, especially if the firm turns in a well-received earnings report after tonight's close. Short sellers currently hold 6.3 million Yelp shares -- or five times the average daily trading volume -- pointing to plenty of buying power on the sideline that could come in and boost the security.