27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Goldman has raised its estimates and price target on Shutterfly, Inc. (NASDAQ: SFLY) after the photo-based products and services provider reported better-than-expected quarterly results.
For the second quarter, Shutterfly reported a non-GAAP loss of $0.42 a share versus consensus loss view of $0.59 and GS estimate of a loss of $0.57. Revenue of $204 million also topped the Street view of $200.3 million and GS estimate of $201.1 million.
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Customers increased 4 percent, while AOV increased 2.5 percent, driven by strength in core brands, "somewhat offset by softness in Tiny Prints and Wedding Paper Divas."
"While Shutterfly continues to deliver double-digit organic sales growth and is leveraging a three-year technology and fulfillment driven investment cycle, with slowing growth in Consumer and a lack of traction in digital we believe the risk/reward is balanced and remain Neutral rated," analyst Heath Terry wrote in a note.
Shutterfly also raised the low end of its FY16 revenue guidance to $1.13 billion–$1.16 billion (from $1.12 billion–$1.16 billion earlier), bracketing consensus of $1.15 billion. Goldman cut its 2016 revenue forecast by 1 percent to $1.148 billion and adjusted EPS by 11.6 percent to $0.68.
Terry, however, raised his price target goes to $50 from $48.
Shares of Shutterfly closed Wednesday's regular trading session at $49.43 and were up 7.77 percent in the first hour of Thursday's regular trading session, at $53.27.
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This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.