Snowflake Inc. SNOW shares are buying and selling greater Friday after Raymond James analyst Simon Leopold maintained an Outperform score on the inventory and raised his worth goal from $190 to $223.
Raymond James famous present public cloud traits as constructive and particularly highlighted Amazon.com’s AMZN fourth-quarter AWS income progress re-acceleration as favorable to Snowflake as its Cloud Information Warehouse platform is constructed and deployed primarily on Amazon’s AWS.
The analyst additionally famous the flexibleness of Snowflake’s consumption-based mannequin which is appreciated by its enterprise-level patrons and sees one other enhance to progress with “Snowflake performing as an on-ramp to AI platforms.”
Snowflake’s inventory has gained greater than 13% over the previous month as pleasure encompass synthetic intelligence and related applied sciences builds.
In accordance with knowledge from Benzinga Pro, Snowflake shares are buying and selling above the inventory’s 50-day shifting common of $191.49 and are at the moment buying and selling at a brand new 52-week excessive.
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Is SNOW A Good Inventory To Purchase:
Wall Avenue analysts view Snowflake SNOW on the entire as a Outperform, given the historical past of protection over the previous three months. Mark Murphy from JP Morgan in Snowflake is probably the most optimistic, anticipating a 17.65% rise within the inventory within the coming 12 months.
However taking a look at how the market as a complete thinks of the inventory, you’ll be able to reference historic worth motion for views on whether or not traders really feel strongly in regards to the inventory a method or one other. Previously 3 months, Snowflake rose 42.69%, which signifies that opinion improved on the enterprise and the way engaging it’s to personal primarily based on both its inventory worth, or underlying fundamentals, like income, which rose 31.8% over the previous 12 months.
A whole overview of how Wall Avenue views particular person shares is accessible here, whereas actual time updates on the newest analyst actions will likely be delivered by way of Benzinga PRO. Attempt it without cost.
SNOW Value Motion: In accordance with Benzinga Pro, Snowflake shares are up 7.76% at $215.45 on the time of publication.
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