SPY ETF Update, 8/5/2024 
Market News

SPY ETF Update, 8/5/2024 

Story Highlights

Let’s take a quick look at how the SPDR S&P 500 ETF Trust has been performing.

How is SPY stock faring? The SPDR S&P 500 ETF Trust is down 2.78% in the past five days but has risen 19.89% over the past year.

According to TipRanks’ unique ETF analyst consensus, determined based on a weighted average of its holdings’ analyst ratings, SPY is a Moderate Buy. The Street’s average price target of $621.63 implies an upside of 16.65%.

Currently, SPY’s five holdings with the highest upside potential are Micron Technology (MU), United Airlines (UAL), Western Digital (WDC), Crowdstrike (CRWD), and Moderna (MRNA). 

Meanwhile, its five holdings with the greatest downside potential are AFLAC (AFL), Expeditors International (EXPD), Altria (MO), Consolidated Edison (ED), and American Electric Power (AEP).

Revealingly, SPY’s ETF Smart Score is eight, implying that this ETF is likely to outperform the market. 

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