$SNOW Needham Initiates w/ A BUY

Snowflake gets high marks from Needham as ‘data is the new oil’

Sep. 16, 2022 12:11 PM ETSnowflake Inc. (SNOW)FDXBy: Rex Crum, SA News Editor

https://seekingalpha.com/news/3883492-snowflake-gets-high-ma…

Cloud-based data software provider Snowflake (NYSE:SNOW) got some good news on Friday as Needham analyst Mike Cikos started his coverage of the company with a buy rating and $240-a-share price target.

And then the stock market opened. And with that, Snowflake’s (SNOW) shares fell as much as 6% as stocks in general hit the skids due to more negative sentiment about the economy thanks to a negative report and outlook from FedEx (FDX).

Still, Cikos was upbeat on Snowflake (SNOW) and that the company stands to benefit more from its cloud-native data platform “which has massive scale thanks to cloud’s latest innovations [and] a large growing opportunity” if a total addressable market expected to reach $248B in 2026.

4 Likes

$SNOW daily chart

https://schrts.co/KKEkfBSQ

$SNOW weekly chart

https://schrts.co/wvKwvnvW

$SNOW monthly chart

https://schrts.co/pUgnQxFR

1 Like

Making some chart corrections:

$SNOW daily chart

https://schrts.co/WdhUeqjP

$SNOW weekly chart

https://schrts.co/CXdRPjtX

$SNOW monthly chart

https://schrts.co/ZuETbfpS