what happened
Sections of Avalanche (NYSE: SNOW) popped 8.3% on Friday, following bullish analyst comments.
so what
Evercore analyst Kirk Materne outperformed Snowflake stock. It sees the data retention expert’s shares soar to $ 311, or more than 32% higher than their current price of $ 235.
Snowflake shareholders could be in for some elegant rewards, according to Evercore analysts. Image source: Getty Images.
Materne identified the huge snowflake shipping market, whose regulatory pegs are at around $ 80 billion. “We believe that not many software companies over the last decade have as much growth potential as Snowflake,” he said.
Moreover, Materne argued that while its shares may appear expensive based on short-term measurements, Snowflake offers an attractive, rewarding image for established investors. on its long-term expansion potential.
Now what
With its shares trading for around 60 times what was expected reic in the coming year, avalanches are definitely not cheap. But if you think its cloud-based data management capability is as big as regulators say it is, it might be worth putting an avalanche on your watchlist. If the recent sale in stock continues to grow at a high price, the opportunity to buy this cloud data leader at a better price could emerge in the coming weeks.
This article represents the opinion of the writer, who may not agree with the “official” recommendation position of the Motley Fool chief consulting service. We are motley! Questioning an investment dissertation – even one of our own – helps us to think critically about investing and make decisions that will help us become softer, happier and richer.