Starbucks Corporation (SBUX) said on Monday that it had launched the Starbucks Rewards Visa Prepaid Card, or the first debit card allowing clients to earn Stars outside of the coffee chain.
Starbucks shares closed lower for a third consecutive trading session on Monday. The stock edged down 0.21% ($0.12) to $56.48, after touching an intraday low at $56.27, or a price level not seen since June 6th ($55.62).
Shares of Starbucks Corporation have retreated 1.65% so far in 2018 compared with a 4.05% gain for the underlying index, S&P 500 (SPX).
In 2017, Starbucks Corp’s stock rose 3.44%, thus, it again underperformed the S&P 500, which registered a 19.42% return.
According to Starbucks, the card represents the sole general purpose reloadable prepaid product, which enables customers to earn Stars for their purchases and charges no monthly, annual or reload fees.
The Starbucks Rewards Visa Prepaid Card is the second co-branded product, launched by Starbucks and JP Morgan Chase in 2018, after the Starbucks Rewards Visa Card was introduced in February.
The card, which is integrated directly into the Starbucks Rewards loyalty program, will allow clients to automatically receive Gold Status, to become eligible for birthday rewards, free food and beverages from the coffee chain, among other benefits.
“As we continue to expand and strengthen our digital relationships with customers, we want to make sure we’re providing choices that are both rewarding and meet their preferences in how they engage with us”, Matt Ryan, Starbucks Corps Chief Marketing Officer, was quoted as saying in the companys press release.
“This reloadable Visa Prepaid card is a unique and modern option that gives customers one more way to earn more Stars and Rewards through everyday spend, in a way they haven’t been able to before”, he added.
According to CNN Money, the 27 analysts, offering 12-month forecasts regarding Starbucks Corporation’s stock price, have a median target of $65.00, with a high estimate of $72.00 and a low estimate of $57.72. The median estimate is a 15.08% surge compared to the closing price of $56.48 on June 11th.
The same media also reported that 17 out of 30 surveyed investment analysts had rated Starbucks Corporation’s stock as “Buy”, while 12 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Starbucks stock are presented as follows:
R1 – $56.52
R2 – $56.57
R3 (Range Resistance – Sell) – $56.61
R4 (Long Breakout) – $56.74
R5 (Breakout Target 1) – $56.89
R6 (Breakout Target 2) – $56.95
S1 – $56.44
S2 – $56.39
S3 (Range Support – Buy) – $56.35
S4 (Short Breakout) – $56.22
S5 (Breakout Target 1) – $56.07
S6 (Breakout Target 2) – $56.01
By using the traditional method of calculation, the weekly levels of importance for Starbucks Corporation (SBUX) are presented as follows:
Central Pivot Point – $56.61
R1 – $57.93
R2 – $59.27
R3 – $60.59
R4 – $61.92
S1 – $55.27
S2 – $53.95
S3 – $52.61
S4 – $51.28
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