Spotlight on Snowflake: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been detected for Snowflake (NYSE:SNOW), with 65% of trades being bearish. This suggests potential downward pressure on the stock. Analysts maintain positive ratings with an average target price of $171.6.
September 06, 2024 | 5:31 pm
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Snowflake has seen a surge in bearish options activity, with 65% of trades being bearish. This could indicate potential short-term downward pressure on the stock. However, analysts maintain positive ratings with an average target price of $171.6.
The significant bearish options activity suggests that investors are expecting a decline in Snowflake's stock price. Despite this, analysts have maintained positive ratings, indicating a potential divergence between market sentiment and analyst expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100