The SPDR S&P 500 ETF Trust (SPY) is down 0.42% in pre-market trading today after the S&P 500 (SPX) Index touched new record highs. Investor sentiment has cooled slightly amid growing debate over AI-driven valuations, with Wall Street heading into a holiday-shortened week.
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Overall, the SPY ETF has gained 0.96% over the past five days and 19.2% year-to-date.
Importantly, SPY closely tracks the S&P 500 Index (SPX), which was down 0.03%, while the tech-heavy Nasdaq-100 (NDX) declined 0.05% on December 27.
Fund Flows and Sentiment
SPY’s five-day net inflows totaled $3 billion, showing that investors added capital into SPY over the past five trading days.
It must be noted that the retail sentiment for the SPY ETF is positive, while hedge fund managers have decreased their holdings of the ETF in the last quarter.
SPY’s Price Forecast
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SPY has a Moderate Buy rating. The Street’s average price target of $795.18 for the SPY ETF implies an upside potential of 15.18%.
Currently, SPY’s five holdings with the highest upside potential are:
- Texas Pacific Land (TPL)
- The Trade Desk (TTD)
- Coinbase Global (COIN)
- Oracle (ORCL)
- Datadog Inc. (DDOG)
Meanwhile, its five holdings with the greatest downside potential are:
- Tesla (TSLA)
- Warner Bros. Discovery (WBD)
- Albemarle (ALB)
- JB Hunt Transport (JBHT)
- Expeditors International of Washington (EXPD)
Revealingly, SPY’s ETF Smart Score is eight, implying that this ETF is likely to outperform the broader market over the long term.
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