Analyst Ratings Change
On Tuesday May 23rd, 3 investment research firms updated their coverage on Snowflake’s stock as the company prepares to report their most recent quarterly earnings:
Wells Fargo & Company (Rank #12) has recommended an “Overweight” rating on Snowflake’s stock. This rating suggests that the analysts believe the stock has the potential to outperform the market or its industry peers. Additionally, Wells Fargo & Company has lifted the target price from USD 170 to USD 200, indicating the analysts’ expectations for the stock’s value over a specific period. The target price range reflects the estimated price at which the analysts believe the stock is reasonably valued or has potential upside.
Scotia Capital (Rank #9) has maintained its “Sector Perform” rating on Snowflake’s stock, indicating an expectation that the stock will perform in line with the overall sector or industry. The analysts at Scotia Capital have raised their target price to USD 157. This target price represents the analysts’ estimated fair value for the stock based on their analysis of various factors such as the company’s financials, industry trends, and market conditions.
- STA Research (Rank#74) has reaffirmed its “Strong Buy” rating on Snowflake’s stock. This rating suggests that the analysts believe the stock has significant potential for growth and outperformance. The analysts at STA Research have a target price of USD 205, indicating their expectation for the stock’s future value. This target price represents the analysts’ assessment of the stock’s intrinsic worth based on their research and analysis.
SNOW Stock Forecast & Analysis
39 analysts have the average target price for Snowflake Inc. projected to be USD 186.70 over the next 12 months. The average analyst rating of “Strong Buy” reflects a positive sentiment regarding the stock’s growth potential.
The average analyst rating of “Strong Buy” indicates a high level of optimism among analysts regarding Snowflake Inc.’s growth prospects. This rating suggests that the stock is expected to outperform the broader market or its industry peers, highlighting confidence in the company’s business model and competitive positioning.
Stock Target Advisor’s analysis provides a contrasting viewpoint, classifying Snowflake Inc.’s stock as “Bearish. (sweet-factory) ” This assessment is based on 2 positive signals and 6 negative signals. While the specific signals considered are not specified, they likely encompass a range of technical, fundamental, and market indicators. The “Bearish” analysis suggests caution and indicates a more skeptical outlook regarding the stock’s future performance.
Snowflake Inc.’s stock price stood at USD 178.47 at the last closing. Over the past week, the stock experienced a positive change of +3.73%. In the previous month, the stock performed well, showing a notable increase of +22.92%. Looking back over the last year, the stock price has risen significantly by +26.14%. These figures indicate a relatively volatile but overall positive trajectory for Snowflake Inc.’s stock.
The diverse assessments surrounding Snowflake Inc.’s stock forecast, average analyst target price, and recent stock price performance illustrate the complexity of evaluating investment opportunities. While analysts generally maintain a “Strong Buy” rating and foresee an upward trajectory for Snowflake Inc., the “Bearish” analysis from Stock Target Advisor suggests a need for cautious optimism.
