1 Wall Street Analyst Thinks Snowflake Stock Is Going to $235. Is It a Buy?
Snowflake (NYSE: SNOW) shares have soared 47% over the last six months at the time of this writing. Wolfe Research analyst Alex Zukin recently upgraded the stock to an outperform (buy) rating with a $235 price target, implying upside of 24% over the current $189 share price. The bullish call comes ahead of the company's fourth-quarter earnings report on Feb. 26.The stock is not cheap after its price-to-sales multiple nearly doubled over the last few months. Here's what is fueling more optimism for Snowflake and whether it is reasonable to expect the stock to climb higher in 2025.Several factors sent the stock down last year, including a CEO change, increasing competition, and lower revenue growth. However, Snowflake has continued to roll out new cloud products that are firming up demand. Snowflake Cortex, an artificial intelligence (AI) service that helps customers build new applications, is experiencing strong adoption.Continue reading
Snowflake (NYSE: SNOW) shares have soared 47% over the last six months at the time of this writing. Wolfe Research analyst Alex Zukin recently upgraded the stock to an outperform (buy) rating with a $235 price target, implying upside of 24% over the current $189 share price. The bullish call comes ahead of the company's fourth-quarter earnings report on Feb. 26.
The stock is not cheap after its price-to-sales multiple nearly doubled over the last few months. Here's what is fueling more optimism for Snowflake and whether it is reasonable to expect the stock to climb higher in 2025.
Several factors sent the stock down last year, including a CEO change, increasing competition, and lower revenue growth. However, Snowflake has continued to roll out new cloud products that are firming up demand. Snowflake Cortex, an artificial intelligence (AI) service that helps customers build new applications, is experiencing strong adoption.
