Before The Move: Watch Snowflake Into Lockup Expiration

WHAT'S NOTABLE: Back in October, Bernstein analyst Zane Chrane initiated coverage of Snowflake with a Market Perform rating and $270 price target. The analyst told investors at the time that he saw risk of multiple contraction as investors begin to anticipate the lockup expiration on insider sales.

PRICE ACTION: In morning trading, shares of Snowflake have dropped almost 2% to $323.85.

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"Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

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