Trading Strategies For Snowflake Stock Before And After Q4 Earnings, A Major Holding In Spear Invest ETF SPRX
Portfolio Pulse from Melanie Schaffer
Snowflake, Inc. (SNOW) was trading near flat as it approached its Q4 earnings, with Citigroup analyst Tyler Radke maintaining a Buy rating and raising the price target from $255 to $290. Snowflake's stock appears bullish from a technical analysis perspective. Spear Invest ETF (SPRX), which holds Snowflake as a major investment, offers diversification and targets long-term capital growth, having risen about 64% over the last twelve months and 10.5% year-to-date.
February 28, 2024 | 7:54 pm
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POSITIVE IMPACT
Snowflake's stock appears bullish ahead of its Q4 earnings, with a Citigroup analyst raising the price target to $290. The stock has been consolidating, indicating potential for upward movement post-earnings.
The positive analyst rating and price target increase by Citigroup, combined with the stock's technical setup, suggest a bullish outlook for Snowflake in the short term, especially if the earnings report is favorable.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Spear Invest ETF (SPRX), holding Snowflake as a major investment, has seen significant growth, up about 64% over the last twelve months and 10.5% year-to-date, indicating strong performance and potential for continued growth.
SPRX's performance, highlighted by its significant year-over-year and year-to-date gains, along with its diversification strategy and focus on long-term capital growth, positions it positively in the short term, especially with Snowflake's bullish outlook.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80