Looking At Snowflake's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Snowflake (NYSE:SNOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 80% bearish and 20% bullish. Whales have been targeting a price range from $100.0 to $270.0 for Snowflake over the last 3 months. Guggenheim has downgraded its action to Sell with a price target of $105, while Mizuho maintains a Buy rating with a price target of $180, and Exane BNP Paribas has upgraded its action to Neutral with a price target of $173.
August 17, 2023 | 6:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Snowflake has seen significant bearish options activity, indicating a potential drop in its stock price. Analysts' ratings vary, with Guggenheim downgrading to Sell and a price target of $105, Mizuho maintaining a Buy rating with a price target of $180, and Exane BNP Paribas upgrading to Neutral with a price target of $173.
The unusual options activity, with 80% bearish sentiment, suggests that large investors are expecting Snowflake's stock price to drop. This is further supported by Guggenheim's downgrade to Sell. However, Mizuho and Exane BNP Paribas have more positive outlooks, which may mitigate the potential drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100