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home / news releases / NET - Snowflake: The Bottom Is In (Technical Analysis)

NET - Snowflake: The Bottom Is In (Technical Analysis)

Cloudflare Inc - Class A

2024-07-10 05:49:52 ET

Summary

  • Snowflake Inc. is down 31% in 2024 due to slowing growth and leadership changes, but recent improvements in the chart picture suggest the stock has bottomed out.
  • Snowflake's sales trajectory remains strong with annual growth rates exceeding 30%, generating substantial free cash flow and raising product sales forecast.
  • Despite challenges, Snowflake's technical indicators are bullish, sales multiple is low compared to peers, and potential for re-rating to $230 intrinsic value.

Snowflake Inc. ( SNOW ) is down 31% in 2024 as the cloud-based data warehousing and analytics platform amid slowing growth and a changed in leadership earlier this year....

For further details see:

Snowflake: The Bottom Is In (Technical Analysis)
Stock Information
Company Name: Cloudflare Inc - Class A
Stock Symbol: NET
Market: NYSE
Website: cloudflare.com
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