Snowflake Unusual Options Activity For November 06
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Snowflake (NYSE:SNOW) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $140.0 to $160.0 for Snowflake over the last 3 months. B of A Securities downgraded its action to Neutral with a price target of $195 while Piper Sandler maintained their Overweight rating on Snowflake with a price target of $195.
November 06, 2023 | 3:46 pm
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Unusual options activity indicates a bearish stance on Snowflake. The sentiment of big-money traders is more bearish than bullish. Analysts have mixed views with a price target of $195.
The unusual options activity, with a bearish sentiment, indicates that there might be a negative impact on Snowflake's stock price in the short term. This is further supported by the downgrade from B of A Securities. However, Piper Sandler's maintained Overweight rating indicates some positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100