SPY ETF Update, 8/2/2024 
Market News

SPY ETF Update, 8/2/2024 

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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 0.37% in the past five days but has risen 24.08% 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 $628.24 implies an upside of 15.7%.

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

Meanwhile, its five holdings with the greatest downside potential are AFLAC (AFL), Expeditors International (EXPD), Iron Mountain (IRM), Mettler-toledo International (MTD), and Southern Company (SO).

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

Power up your ETF investing with TipRanks. Discover the Top Equity ETFs with High Upside Potential, carefully curated based on TipRanks’ analysis.    

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