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....
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For further details see:
Snowflake: The Bottom Is In (Technical Analysis)