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Is Snowflake Stock a Buy Now?

TheMotleyFool

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Is Snowflake Stock a Buy Now?Photo, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Snowflake (NYSE: SNOW) is a maker of enterprise software for storing data on the cloud, where it can then be analyzed and acted upon. The stock was down 58% in 2022, but Wall Street is getting increasingly excited about the company's prospects in 2023.

On Jan. 12, Citi analyst Tyler Radke said Snowflake was one of his top software picks for 2023, according to The Fly. One week earlier, Wells Fargo analyst Michael Turrin said Snowflake stock could hit $170.

Here's a look at whether Snowflake is a good stock to buy right now.

Source Fool.com

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