What the Options Market Tells Us About Snowflake
Portfolio Pulse from Benzinga Insights
The options market shows a bearish sentiment towards Snowflake (NYSE:SNOW), with 62% of recent trades being bearish. Significant investors are targeting a price range of $80 to $200. The stock is currently trading at $128.3, down by 0.98%, and may be approaching oversold territory. Analysts have mixed ratings with a consensus target price of $198.33.
July 30, 2024 | 7:16 pm
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The options market indicates a bearish sentiment towards Snowflake, with 62% of trades being bearish. The stock is currently trading at $128.3, down by 0.98%, and may be approaching oversold territory. Analysts have mixed ratings with a consensus target price of $198.33.
The majority of options trades are bearish, indicating that significant investors expect the stock price to decline. The current price drop and approaching oversold RSI readings further support a bearish outlook. Mixed analyst ratings add to the uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100