1 Wall Street Analyst Thinks Snowflake Stock Is Going to $125. Is It a Sell?
A deep freeze is coming for Snowflake (NYSE: SNOW) stock, and he suggests investors would be wise to sell out of it. That, at least, is the view of an analyst tracking the next-generation data warehousing specialist.
This prognosticator recently knocked his recommendation on the stock down one peg, and thinks they're in for some financial pain if they stay the course with the company. Could he be right?
As March came to an end, Redburn-Atlantic analyst Alex Haissl downgraded his Snowflake recommendation to sell, from his previous neutral. As often happens in such cases he accompanied this with a price target cut. In his view, Snowflake is worth $125 per share these days; he previously flagged its fair value at $180. That new level falls 22% below the specialty tech stock's current price.
Source Fool.com
