Snowflake Unusual Options Activity For May 31
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Snowflake (NYSE:SNOW) with 62% of detected unusual options trades being bearish. The price of SNOW is up 5.26% at $167.0. Analysts from Stifel, Barclays, Morgan Stanley, TD Cowen, and Wells Fargo have maintained positive ratings on Snowflake with price targets ranging from $165 to $215.
May 31, 2023 | 3:09 pm
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NEUTRAL IMPACT
A whale has taken a bearish stance on Snowflake with 62% of detected unusual options trades being bearish. However, analysts from Stifel, Barclays, Morgan Stanley, TD Cowen, and Wells Fargo have maintained positive ratings on Snowflake with price targets ranging from $165 to $215.
The bearish stance taken by the whale in the options market may create short-term downward pressure on Snowflake's stock price. However, the positive ratings and price targets from multiple analysts suggest that the overall outlook for the stock remains positive. This conflicting information leads to a neutral short-term impact on Snowflake's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100