What's Going On With Snowflake Stock?
Portfolio Pulse from Erica Kollmann
Snowflake Inc. (NYSE:SNOW) shares are trading lower after multiple analysts updated their coverage. RBC Capital lowered its price target from $226 to $183, while other analysts maintained their ratings with varied price targets. The stock has fallen 16% since mixed Q1 results in May, with revenue beating estimates but earnings missing. Snowflake shares are down 21.62% over the past year and 16.71% over the past month, currently trading at $132.69.
June 05, 2024 | 4:59 pm
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NEGATIVE IMPACT
Snowflake Inc. shares are trading lower after multiple analysts updated their coverage. RBC Capital lowered its price target from $226 to $183, while other analysts maintained their ratings with varied price targets. The stock has fallen 16% since mixed Q1 results in May, with revenue beating estimates but earnings missing.
The stock is trading lower due to multiple analysts updating their coverage with some lowering price targets. The mixed Q1 results, with revenue beating but earnings missing estimates, have contributed to the negative sentiment. The stock's significant decline over the past year and month further supports a likely short-term downward trend.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100