CryptoFundManager

SNOW price target after Disappointing Growth Forecast

Short
NYSE:SNOW   Snowflake Inc
Snowflake is facing strong competition from Microsoft's Azure and Amazon's Web Services.

Snowflake expects product revenue for fiscal 2023 to grow between 65% and 67%, lower than 2022's 106%.

In Q4 SNOW posted total revenue of $383.8 million, beating analysts' average estimate of $372.6 million.

In 2021 they had 592Mil in revenue and negative earnings of 539Mil. The market cap was 81.075Bil yesterday.

SNOW Snowflake went public in September 2020 at $120 a share.

After the Disappointing Growth Forecast and a head and shoulders bearish chart pattern, my price target is $185!

Looking forward to read your opinion about it.

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