Starbucks Corp (NASDAQ:SBUX) shares are 8% higher to trade at $105.10 at last glance, following the coffee chain's better-than-expected earnings and revenue for the fiscal second quarter. Starbucks also raised its full-year outlook due to same-store sales strength, prompting at least 12 price-target hikes, including one from Deutsche Bank to $120 from $114.
Analysts lean pessimistic, with 21 of the 38 firms in coverage calling the security a "hold" or worse. Plus, the 12-month consensus target price is only a 1.3% premium to current levels.
SBUX is now trading at it highest level since January, as it bounces off the 20-day moving average. The equity is testing overhead pressure at the $103 level, which turned down a rally in March. Starbucks now sports 22.6% lead lead for 2026, and is on track to snap a three-day losing streak with its best single-day percentage gain since May.
Though calls outpace puts in the options pits, options traders have been more bearish than usual in the last two months. This is pert the equity's 50-day call/put volume ratio of 3.09 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
So far today, 32,000 calls and 24,000 puts have crossed the tape, seven times the amount typically seen at this point. Most popular is the weekly 5/1 103-strike call, where positions are being opened.
