This Is What Whales Are Betting On Snowflake
Portfolio Pulse from Benzinga Insights
A significant number of investors have taken a bearish stance on Snowflake (NYSE:SNOW), with 63% of recent trades being bearish. The majority of these trades are puts, totaling $502,961, compared to $138,900 in calls. Whales have been targeting a price range from $145.0 to $180.0 for Snowflake over the last 3 months. The current price of SNOW is down -1.02% at $151.21. Needham, DA Davidson, and HSBC have all downgraded their action to Buy with price targets of $216, $200, and $201 respectively.
October 02, 2023 | 3:01 pm
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Bearish sentiment is high on Snowflake with 63% of recent trades being bearish. The stock's price is currently down -1.02% at $151.21. Analysts from Needham, DA Davidson, and HSBC have downgraded their action to Buy with price targets of $216, $200, and $201 respectively.
The bearish sentiment from a significant number of investors, coupled with the downgrades from analysts, could potentially lead to a decrease in the stock's price in the short term. The targeted price range by whales also indicates a potential downward movement.
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