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Snowflake Inc. (SNOW): Analyst View Points To Future Growth 

Wall Street analysts have cut their price expectations for cloud provider Snowflake Inc (NYSE: SNOW) in recent months. Many analysts concur, however, that SNOW has the potential to become a major participant in the worldwide cloud computing industry.

Analysts at Wolfe Research offered an “overweight” rating for Snowflake Inc (SNOW) shares at the end of April 2022, but set a target price of $250, most likely due to short-term market uncertainties.

Simultaneously, experts are upbeat about the company’s prospects, believing that, like Microsoft, Amazon, and Alphabet, Snowflake will become one of the main cloud service providers.

SNOW stock prices were affected this week by a suggestion from Truist Securities, whose analysts decreased the target price for shares from $350 to $300. The high price-to-value ratio of yearly sales, which is still a high 35 even after a steep fall in quotes and quick growth, was one of the grounds for decreasing the target price.

Snowflake’s sales rose by 102 percent year over year in the fourth quarter of fiscal 2022 (which concluded on January 31). Nevertheless, the company recorded its greatest order levels ever, thanks to the addition of numerous new Fortune 500 companies to its cloud platform.

Snowflake handled almost 1.5 billion queries per day across all of its client accounts in FY 2022, compared to about 777 million in FY 2021. Snowflake Inc (SNOW) also has a 178 percent net income retention rate. This indicates that after registering, clients spend money on extra services.

SNOW’s stock rose 5.81 percent to $140.60 in the most recent trading session. The company’s shares were trading between $126.01 and $146.89. It traded 9.38 million shares, which was more than the 100-day average of 5.39 million shares. SNOW’s stock has been down -15.39 percent in the previous five days and has dropped -33.35 percent in the last month.

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