February 9th, 2022 Watch List

Markets closed higher on Tuesday, with the S&P adding .98% while the Nasdaq finished up 1.28%. Asia markets closed in the green overnight while Europe stock are rallying this morning. U.S. futures are also pointing to a higher open, the Dollar, Yields, and Gold are green while Oil is in the red..

And this is what UPB is reading this morning:  Wednesday Morning Reads

And here is my rant form yesterday if you missed it: https://www.optionmillionaires.com/jb-afternoon-rant-february-22nd-2022/

Markets finally seemed to find their footing yesterday after a choppy morning. There was no rug pull at the end of the day and looks like we may have some follow-thru today - all good signs. Would like to see the SPY come up and retest that 50dma in the coming sessions and see how it reacts before calling a bottom:

APPS reported a strong beat and raise yesterday. The stock is not rallying as I would expect... especially considering its 50% pull from all-time highs hit just 4 months ago. The premiums will come out of the calls when it opens, pending any crazy late pre-market action. Will start looking to nibble some further out strikes to play for the eventual move over $60+

SSYS enjoyed another solid session, holding that $24 handle. Should see some more mojo today and the premiums should start to creep up in the calls:

CMG reported a strong Q with decent comps and addressed worries around inflation impacting their ingredients - pretty much saying they are comfortable raising prices as needed and think there would be minimal impact to sale if they do so. The premiums were still insane yesterday so I passed on the calls. If it holds $1570 today may look at some $1650 or higher speculative calls:

I spoke about MDGL on my rant yesterday, The stock has been meticulously melting higher after posting some positive data Jan. 31st.  Almost feels like a fund or maybe a potential stakeholder is loading. I may look to add some spec calls above $100 if it shows any strength at the open:

FUBO is also back on watch into their earnings on Feb 23rd. Premiums look pretty good on a risk/reward basis:

Still looking for entry into KRNT as well.

Here are the analyst changes of note for today:

JFrog price target lowered to $32 from $71 at Needham
Needham analyst Mike Cikos lowered the firm's price target on JFrog to $32 from $71 to reflect the recent volatility in the Software sector but keeps a Buy rating on the shares ahead of its Q4 results. The analyst expects JFrog to outperform consensus revenue expectations and also believes that its outlook for Net Dollar Retention to stabilize around 130% is achievable given the year-to-date trends. Cikos further states that the company's gross margin should continue to benefit from steps taken to improve its SaaS cost structure
Lyft price target lowered to $58 from $80 at Truist
Truist analyst Youssef Squali lowered the firm's price target on Lyft to $58 from $80, saying the company's Q1 guidance miss reflects the impact of omicron, but keeps a Buy rating on the shares. The quarter shows that while Lift continues to deal with an uneven recovery in rideshare, it manages to deliver on expectations, with improvements in driver supply and cost containment helping the company to its third-most profitable quarter yet, the analyst tells investors in a research note
Pfizer's Paxlovid forecast 'bodes well' for Codexis, says Benchmark
Benchmark analyst Robert Wasserman maintains a Buy rating and $45 price target on Codexis (CDXS) shares after customer and key partner Pfizer (PFE) reported Q4 results and offered some insight on their COVID-19 oral therapeutic Paxlovid. Sales of Codexis' performance enzymes for use in manufacturing Paxlovid were the company's largest revenue source in 2021, accounting for approximately 30% of sales, and Pfizer's guidance for sales of Paxlovid to rise to $22B this year "bodes well" for Codexis, Wasserman tells investors. He expects that if Pfizer's commentary yesterday holds true, that repeat sales to Pfizer by Codexis in 2022 could meet those of 2021, the analyst added
Amgen price target raised to $280 from $266 at Jefferies
Jefferies analyst Michael Yee raised the firm's price target on Amgen to $280 from $266 and keeps a Buy rating on the shares, stating that its long-term guidance is "now a formal target and incremental positive" and with 2022 guidance out of the way he thinks the stock "looks more attractive." The up to $6B in share repurchases planned in Q1 is also an incremental positive and catalyst while the "defensive" nature of Amgen is "more attractive in today's risk-off market," said Yee, though he adds that he thinks the company's long-term outlook "does imply some pretty bullish pipeline assumptions.
Enphase Energy price target raised to $250 from $225 at Susquehanna
Susquehanna analyst Biju Perincheril raised the firm's price target on Enphase Energy to $250 from $225 and keeps a Positive rating on the shares. The analyst said proactive supply chain maneuvers are supporting robust demand on both microinverters and batteries as the company enters new markets within the U.S. and internationally
Digital Turbine price target lowered to $108 from $132 at Maxim
Maxim analyst Allen Klee lowered the firm's price target on Digital Turbine to $108 from $132 to reflect its peer group valuation compression, but keeps a Buy rating on the shares after its Q3 earnings beat. Digital Turbinehas transformed into a $1B+ annual revenue company with significant mobile ad-tech solutions and competitive advantages with SingleTap, customer data, and independence with limited exposure to Apple's IDFA privacy rule changes, the analyst tells investors in a research note
Paycom price target raised to $420 from $385 at DA Davidson
DA Davidson analyst Robert Simmons raised the firm's price target on Paycom to $420 from $385 and keeps a Buy rating on the shares. The company posted a "strong" Q4 with a better than normal revenue beat, the analyst tells investors in a research note. Simmons continues to see Paycom as an efficient long-term secular share gainer in the payroll space

And here is what I am watching : CMG, APPS, KRNT, FUBO, MDGL, SSYS, IRBT, and PRLB.

Let's have a great day!



JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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