Snowflake Stock Hits 52-Week Highs on Revenue Forecast

Group 1 - Snowflake Inc's stock is reaching 52-week highs, up 10.7% to $198.28, following an increase in its full-year product revenue forecast [1] - The company's first-quarter earnings exceeded estimates, and revenue met expectations, prompting at least 20 analysts to raise their price targets [1] - Year-to-date, Snowflake shares have increased by 27.3%, with the stock trading at its highest level since February 2024 [2] Group 2 - Snowflake's stock has experienced significant trading activity, with options volume reaching 10 times the typical amount, indicating bullish sentiment among investors [3] - A total of 116,000 call options were traded compared to 52,000 put options, with the 200-strike call being the most popular [3] - There has been a notable shift in investor sentiment, as the 10-day put/call volume ratio is higher than 97% of readings from the past year, indicating a more bearish outlook prior to the recent developments [4]