Snowflake (SNOW-N)
63 watching
NYSE:SNOW
143.03
0.73
(0.51%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Jun 29, 2022, 8:00 pm
0
COMMENT
Reported a top and bottom line beat, but offered soft guidance--turbulence due to the wider economy. Shares tumbled 15% the next day, but recovered over 10% mostly because investors realized the business is strong. SNOW has strong secular growth. Shares have gradually recovered from that report/guidance.
Technology
$135.570
Unknown
BUY
He won't buy high-PE tech stocks even though they are bottoming, but he will trade them. He bought Snowflake calls at a March 200 strike with the stock trading at $181. The cost was 50 cents to $1, then $5 today! The stock has jumped and is now around $189. He was not disciplined--his mistake. He won't invest in these high-PE tech stocks, because they can plunge fast. He has not sold or trimmed these calls, and that is his mistake. If options trader believed tech stocks are bottoming now, they would be looking past April 1. Nobody in options is looking long term, only short.
Technology
DON'T BUY
Down 22% after hours after reporting with weak guidance
It's an $80 billion company and they just guided for $23 billion. Investors got way out of hand what they were willing to pay for these cloud computing companies.
Technology
DON'T BUY
Last Thanksgiving, this was a $400 stock and right now it's been cut in half. It trades around 35x revenue--it's still expensive. It bottomed around $185 a year ago. Even with all the metrics and shares cut in half, this remains an expensive name.
Technology
DON'T BUY
You can't just buy "tech" now. You must work to find companies with logical valuations that offer earnings growth. Some tech stocks have that, some don't. The strategy playback that worked the last 5 years won't work in the coming 5 years.
Technology
BUY
Options trading Today it's sort of near its all-time highs. Today, 3,000 December $350 calls were purchased at $2.30-3.00. He loves this trade. This stock has the potential to break above $350 by week's end. He bought calls.
Technology
DON'T BUY
Why cloud computing stocks have sunk lately. In Q4, 2018, then interest rates suddenly rose, cloud stocks sank 35.5% , which was a great buying opportunity. If you bought then, those names doubled or more. Not all recovered, so buying the dip had to be selective. Unlike 2018, we have real inflation. So, a 35% decline may be the full decline of cloud stocks--but he isn't convinced, and there could be more pain. 18 of 50 cloud stocks have single-digit price-sales valuations--reasonable. Buy these that have fallen enough: Salesforce, VMware and New Relic. Trading at 8-15x sales include Coupa, Otka, Adobe. However, at 20-30x sales include Hubspot and Crowstrike, which are still too high. 30-40x sales: MongoDB and Unity, for example, also way too high. Trading above 30x sales include Snowflake and Cloudflare, also way too high, though he likes names like Snowflake. Likely, there's more downside to come before we reach the Santa Claus Rally.
Technology
PARTIAL SELL
One of his favourite companies. It's one of the most richly valued companies he follows. If your shares have run up, take some profits.
Technology
BUY
Tim Collins, a technical analysts, is bullish cloud stocks After a rough spring, it's climbed since tech bottomed in mid-May, SNOW has shown a pattern of higher highs and higher lows--a healthy rally. Buy at $310 and sell at $355. However, Collins notes the rare "parabolic stop and reverse" indicator; a PSAR stock will spike, pull back, then give a bullish reading to resume its rally. SNOW has done this nearly once a month. Collins predicts SNOW passing $400 based on this pattern, unless the Nasdaq collapses. Buy and hold, says Collins. But if SNOW breaks its floor of $310, don't buy.
Technology
BUY
A high-flyer that's grown into its big valuation. It keeps delivering strong quarters including today, plus positive guidance. He's liked this from the start.
Technology
BUY
A compelling growth story, the fastest in the market, but these growth stocks turn toxic when investors worry about inflation because these stocks about future earnings. This stock has been clobbered for months until recently when it rallied 27%. Today, they reported strong sales numbers up 110% YOY and offered solid guidance. Okay, maybe their report wasn't a blowout, so shares sold off a bit. At some point, these cloud stocks will come back into fashion and SNOW will lead.
Technology
WEAK BUY
It reports next week and is worth buying, but buy only if you believe the market will change its attitude towards high-flying growth names that don't trade on earnings, but sales.w
Technology
DON'T BUY
Loves this for its data-warehousing business. However, cloud software are sliding as reopening stocks are in fashion. This still trades at 55x sales after this sell-off.
Technology
BUY
As long as the CEO stays there, he's happy with this. Is this the right stock right now? He doesn't care.
Technology
BUY on WEAKNESS
2020 IPOs cost way too much, and now are worth buying. They are out of style and cheaper. With a triple-digit growth rate, it started trading last September at 100x sales. He got more comfortable with its valuation by Decemeber when recommended buying this at $300. Now, SNOW stock is at $229, down 25% below its opening-day trade. The fall is partially due to the recent stock rotation, but also there is no more lock-up on insider selling. Wait till this falls to just 50x sales or $190.
Technology
Snowflake(SNOW-N) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 4
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 5
Total Signals / Votes : 9
Snowflake(SNOW-N) Frequently Asked Questions
What is Snowflake stock symbol?
Snowflake is a American stock, trading under the symbol SNOW-N on the New York Stock Exchange (SNOW). It is usually referred to as NYSE:SNOW or SNOW-N
Is Snowflake a buy or a sell?
In the last year, 9 stock analysts published opinions about SNOW-N. 4 analysts recommended to BUY the stock. 5 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Snowflake.
Is Snowflake a good investment or a top pick?
Snowflake was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Snowflake.
Why is Snowflake stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Snowflake worth watching?
9 stock analysts on Stockchase covered Snowflake In the last year. It is a trending stock that is worth watching.
What is Snowflake stock price?
On 2022-06-29, Snowflake (SNOW-N) stock closed at a price of $143.03.
