Snowflake: The Bottom Is In (Technical Analysis)


  • Snowflake Inc. is down 31% in 2024 due to slowing growth and leadership changes, but recent improvements in the chart picture suggest the stock has bottomed out.
  • Snowflake’s sales trajectory remains strong with annual growth rates exceeding 30%, generating substantial free cash flow and raising product sales forecast.
  • Despite challenges, Snowflake’s technical indicators are bullish, sales multiple is low compared to peers, and potential for re-rating to $230 intrinsic value.
Cloud technology line light upload speed.


Snowflake Inc. (NYSE:SNOW) is down 31% in 2024 as the cloud-based data warehousing and analytics platform amid slowing growth and a changed in leadership earlier this year.

Snowflake’s Chief Executive Officer stepped down after leading the cloud company for five

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SNOW over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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