Snowflake Inc. ( SNOW ) shares are experiencing notable market activity Thursday. Here’s what you need to know.

Earnings Preview: Snowflake, the AI Data Cloud company, is set to release its financial results for the quarter, after the close on Aug. 21, 2024. Analysts are expecting estimated earnings per share (EPS) of 16 cents and estimated revenue of $849.704 million.

Options Market Activity: Recent options trading activity has revealed mixed sentiments among large investors. A total of 10 trades were detected, with 50% showing bullish expectations and 40% bearish.

Among these trades, 7 were puts amounting to $259,648 and 3 were calls totaling $138,360. Analysts have been eyeing a price range of $85 to $140 for Snowflake based on volume and open interest trends over the past quarter.

Analyst Ratings:

Goldman Sachs: Maintained a Buy rating with a target price of $220.

Needham: Downgraded to Buy with a target price of $210.

Piper Sandler: Maintained an Overweight rating with a target price of $165.

SNOW Price Action: Snowflake shares were down by 5.68% trading at $123.05 per share, according to Benzinga Pro.

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