SNOW - Here's What the Bulls Need From Snowflake When It Reports Earnings Next Week
2024-02-17 07:03:00 ET
Data cloud specialist Snowflake (NYSE: SNOW) has been a winner for some investors and a loser for others, depending on when they bought it. Since its initial public offering at $245 in 2020, shares have floundered.
The stock trades a few percentage points below this level today, more than three years later. But for investors who bought sometime between late 2022 and in 2023, shares have surged. The stock is up more than 60% since the beginning of 2023 and 16% year to date, trouncing the S&P 500 in both periods.
As the stock inches closer to the price it started trading at in 2020, is it time to take profits, or are shares worth holding on to? The answer to this question may not become apparent until after the company reports fiscal fourth-quarter results on Wednesday.
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Here's What the Bulls Need From Snowflake When It Reports Earnings Next Week