Snowflake Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Snowflake (NYSE:SNOW) as evidenced by unusual options activity. The sentiment among big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $125.0 to $200.0 for Snowflake over the last 3 months. Barclays, Citigroup, and Mizuho maintain a Buy rating on Snowflake with price targets of $190, $191, and $180 respectively, while Guggenheim downgraded its action to Sell with a price target of $105.
August 21, 2023 | 2:16 pm
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Unusual options activity indicates a significant bearish stance on Snowflake. The sentiment among big-money traders is split between 41% bullish and 58% bearish. Analysts' ratings vary with Barclays, Citigroup, and Mizuho maintaining a Buy rating while Guggenheim downgraded to Sell.
The unusual options activity, with a significant bearish stance, indicates that there may be a potential downside for Snowflake's stock in the short term. This is further supported by the sentiment among big-money traders. However, the varying analyst ratings add some uncertainty to the potential impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100