SNOW price target after Disappointing Growth ForecastSnowflake 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.