BTIG Rating and Price Forecast
BTIG maintains its buy recommendation for the Snowflake stock and sees significant upside potential. The price target has been set at $220, which indicates a substantial room for growth compared to the current price.
Key Aspects of the Recommendation
- Current Price: The Snowflake stock is currently trading at around €126.33 (approximately $149.54), which is significantly below the target price.
- Upside Potential: With a target price of $220, there is an upside potential of about 74%.
- Valuation: Despite the positive assessment, the stock is burdened by a high valuation and ongoing losses.
- Financial Situation: Snowflake is showing strong revenue growth, but still needs time for profitability.
- Market Positioning: Snowflake has a strong position in data management but is under competitive pressure.
Summary for Investors
The buy recommendation from BTIG is based on Snowflake’s strong growth potential in the cloud data market. However, investors must consider high valuations and possible risks from fierce competition. Despite the challenges, BTIG’s recommendation remains clearly positive.