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Snowflake Inc.

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SNOW trade ideas

$SNOW Breakout on the HorizonSnowflake (A.I. data storage) NYSE:SNOW , has been trading in VERY tight range for over a month that is much smaller than its normal expected move, which is insane. 1. If it’s at a major support, than its breakout is to the upside (which I’m inclined to believe) 2. If there some crazy news about AI data storage, than it could break below the support. I am more inclined to believe it’s the former. The point of control on the volume profile is $155-$160/share, so that’s where it is likely heading if it breaks out upward. NYSE:SNOW
NYSE:SNOWLong
by jgeno
Snoflake [SNOW] Wyckoff Bullish PatternsVery fundamental company. The last consolidation after very large drops is a good prognosis for an upward exit. It is necessary to focus on Wyckoff Wave Volume, which decreases at the bottoms. This means a decrease in selling pressure. There were two shafts with a very large purchase volume and a wave marked with volume 200. It was a very large sale that did nothing to the price. This sale was absorbed by buyers. This security has typical accumulation features. In my opinion, it is on BUY with a target of $ 140/150 For more analyses using price and volume and the Wyckoff method, subscribe to the profile
NYSE:SNOWLong
by VolumeDayTrader
Long term $180-$190 target. More downside likely short term.I think short term we can see a final push down. Company has way to much in OP EX and once it can figure out how to remove/cut the amount in half, this stock will show to investors that it has a plan for long term profitable growth. Question is, which earnings report will it be and/or will they release news on lay offs once unemployment really spikes. BUY THIS STOCK IN MY PINK ZONE AND HOLD 2-5 YEARS. my main concern right now is AI hype flushing down and/or there cash on hand and free cash flow continues on its down trend...
NYSE:SNOWLong
by LeapTrades
Is it SNOWing?Alright, nothing too crazy, but its worth noting that SNOWFLAKE has flashed what looks to be a TRIPLE BOTTOM. I don't have a lot of confidence in this though. It looks like its gearing down towards its resistance at 110 again. I will be watching this for the next month or so. I think another break of that resistance could push it down into some unmarked territory of all time lows. However if it doesn't drop anymore, I could see a nice lil reversal setting up a channel into the mid 130's.
NYSE:SNOW
by jbs2016
Top 5 Weekly Trade Ideas #5 - SNOWSNOW is sitting right on the previous all time low from 2022 after a brief move below. SNOW also has a nice downtrend that could lead to a big breakout above. SNOW has been deciding what it wants to do at 112 since early August and it should end up with a decent move when it chooses. A longer term upside target would be the gap fill all the way up around 133, before that I'd be looking at the 124 area. To the downside, all time low at around 107.13 and then it's uncharted territory from there.
NYSE:SNOW
by AdvancedPlays
Snowflake: Please turn!Snowflake has experienced a setback in recent days. However, as it was able to hold above the support line at $107.41, our primary scenario remains intact. Thus, we continue to see the price in the turquoise-colored wave b, which should initially bring a (corrective) increase. Only after the high has been established should larger sell-offs come knocking, completing the wave (2) correction in green. However, we consider it 33% likely that the share has already been working on the final stage of this corrective movement since May. This scenario, which will be activated by a fall below the support level of $107.41, would call off the upward swing accordingly.
NYSE:SNOW
by MarketIntel
Wen Snow stop melting?When will Snowflake stop melting away? Unfortunately I don't think anytime soon. But that does't mean you can't trade this to the upside. We are back to the Value area low of the entire range of this chart. Sitting at all time lows, this could get a lot worse. But there is a chance we get some sort of dead-cat bounce back towards the Point of Control (around the $150 area). I will wait for a sign of strength before going long. Will Nvidia smash earnings and cause Gen AI names like Snowflake to rally? It's indeed wishful thinking but anything is possible. We remain in a downtrend for now but I will be going long if the chart's suggests we are turning a corner. By all valuation metrics this former darling of the stock market remains expensive. Trade carefully and don't forget to use stop losses to preserve your hard earned capital.
NYSE:SNOW
by NoFOMO_
1
Snowflake (SNOW): Potential Bullish Flip on the Horizon?In our last analysis on Snowflake, we were focused around the MOAT level, which was lost after the analysis. However, we respected the HVN edge low quite well, and since then, we haven't seen any significant new lows. If Snowflake can hold its current level and avoid retesting lower zones, we could potentially see a flip in the market structure toward a bullish trend. If this scenario plays out, we’ll be actively looking for long setups for SNOW. We'll keep you informed on whether this bullish scenario materializes or if lower prices prevail.
NYSE:SNOW
by freeguy_by_wmc
$SNOW - Will you buy it here?NYSE:SNOW Snowflake hit the first target before earnings 🎯. It’s now back in the buy area post-ER and seems to be checking back on the trendline. Earnings can always be a risk factor, and they can make or break a setup. The $122–$120 support has now turned into resistance. It’s not out of the woods yet, but this might be a good area to start accumulating. RSI isn't oversold yet, so I'm not going all in. As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.
NYSE:SNOWLong
by PaperBozz
levels to manage $SNOW after its earning report06:40 AM EDT, 08/22/2024 (MT Newswires) -- Snowflake (SNOW) shares dropped early Thursday as the company issued a downbeat fiscal third-quarter product revenue outlook despite raising its full-year view for the key metric and beating Wall Street estimates for the second quarter. Product revenue, which comprises the majority of the company's overall revenue, is anticipated to be in a range of $850 million to $855 million for the fiscal third quarter, the cloud-based data platform company said late Wednesday. The consensus on Visible Alpha is for $855.4 million. The stock fell 9.4% in recent premarket activity. "We forecast product revenue based on observed behavior," Chief Financial Officer Michael Scarpelli said during an earnings call, according to a Capital IQ transcript. "Our forecast does include revenue headwinds associated with performance improvements." The company reported adjusted earnings of $0.18 per share for the three-month period ended July 31, down from $0.22 the year before, but ahead of the Capital IQ-polled consensus of $0.16. Overall revenue climbed 29% year over year to $868.8 million, beating the Street's view for $850.7 million. Product revenue advanced 30% to $829.3 million. Financial services and technology verticals drove growth in the second quarter, while the company continued to see signs of a stable optimization environment, Scarpelli told analysts. The net revenue retention rate was 127%, while remaining performance obligations, or RPO, jumped 48% year over year to $5.2 billion, according to the firm. For fiscal 2025, Snowflake now expects product revenue to come in at about $3.36 billion, in line with the consensus estimate on Visible Alpha, up from its prior outlook of $3.3 billion. The company reiterated its adjusted product gross profit margin forecast of 75%. "(Snowflake) delivered solid results and an increase to guidance, though we believe investors were looking for stronger incremental product revenue after their strong first quarter," Truist Securities said in an emailed client note. The brokerage still views Snowflake as one of the key beneficiaries of the "rush" to artificial intelligence and maintained its buy rating on the firm's stock.
NYSE:SNOWLong
by KhanhC.Hoang
Snowflake’s Stock Dips Despite Great Q2 Results: What's WrongSnowflake Inc. (NYSE: NYSE:SNOW ), the cloud data-warehouse software company that has been a favorite among investors, recently reported its Q2 earnings for fiscal year 2025, surprising analysts with better-than-expected results. Despite this, the stock took a significant hit, dropping 8% in extended trading on Wednesday. But what led to this sharp decline, and what does it mean for the future of Snowflake? A Strong Quarter Overshadowed by Growing Pains Snowflake (NYSE: NYSE:SNOW ) reported Q2 revenue of $868.8 million, up from $674.0 million a year earlier, easily surpassing Wall Street’s estimates of $851.6 million. Adjusted earnings per share (EPS) came in at $0.19, also beating the consensus of $0.16. The company’s product revenue, a critical metric, was $829.3 million, just above expectations. Yet, despite these strong figures, the market reaction was overwhelmingly negative. So, what went wrong? The company’s net loss widened, and rising costs became a focal point for investors. The broader concern is that Snowflake’s growth might be losing momentum, as reflected by a less-than-stellar product revenue beat. The company’s guidance for the rest of the fiscal year was positive, with a slight increase in its full-year outlook. However, this was not enough to assuage fears about its ability to maintain high growth rates amidst increasing competition and operational challenges. The Falling Wedge Breakout: A Technical Perspective From a technical analysis standpoint, Snowflake’s stock recently broke out of a falling wedge pattern, a bullish signal that typically indicates a potential upward price movement. However, the 8% drop in extended trading suggests that this breakout might be tested in the coming days. Investors should keep an eye on key support levels. The stock may find buying interest around $123, corresponding to its June swing low. If this level fails to hold, a further decline to $108 or even $95 could be on the horizon, where the stock might attract more buyers. Snowflake (NYSE: NYSE:SNOW ) stock is down 13% in Thursday's premarket trading this move is really bad for Snowflake (NYSE: NYSE:SNOW ) stock as the stock will start the day with a weak momentum from its Relative Strength Index (RSI) of 60.71 which was Wednesday's RSI close. with the stock down by 13% in premarket trading, it will place the RSI at 52 which is bad as it will approach the oversold region leading to more sellout despite earnings beat. CEO Transition and Security Concerns Add to Investor Jitters Adding to the uncertainty is Snowflake’s recent leadership change. The company appointed a new CEO in February, which can often lead to strategic shifts that make investors nervous. Moreover, a cyberattack in May that compromised data from high-profile clients like AT&T and Live Nation has not helped restore confidence. Why Analysts Are Still Bullish on Snowflake (NYSE: NYSE:SNOW ) Despite the post-earnings slide, some analysts remain optimistic about Snowflake’s future. JMP Securities, while lowering its price target from $235 to $190, maintained a Market Outperform rating. The analysts highlighted Snowflake’s strong core business, particularly in financial services and tech sectors, and its potential for profitable growth with a projected $3.36 billion in product revenue for fiscal 2025. Snowflake’s long-term prospects look promising, especially as the company continues to innovate and roll out new AI products. The market for cloud data services is expected to grow substantially, and Snowflake is well-positioned to capitalize on this trend. What’s Next for Snowflake? The next few weeks will be critical for Snowflake (NYSE: NYSE:SNOW ) as it navigates the post-earnings fallout. Investors will be watching closely to see if the stock can hold key support levels or if it will continue to slide. On the operational front, the company needs to address concerns about rising costs and demonstrate that it can sustain high growth rates in a competitive market. In summary, while Snowflake’s Q2 results were strong, the market’s reaction highlights underlying concerns about its future growth trajectory. For now, cautious optimism seems to be the best approach, as the company works to regain investor confidence and prove that it can continue to lead in the cloud data space.
NYSE:SNOWShort
by DEXWireNews
$SNOW - breaking outNYSE:SNOW is breaking out from a descending wedge, and the oscillators are turning up. Snowflake's earnings report is next Wednesday after the market closes. The market sentiment is bearish on the stock, so the question is, can they deliver on these low expectations? This one is risky, especially with a new CEO at the helm! Here are the targets: - $133 (decent resistance) - $142 - $157 (with $150 possibly posing good resistance) Support: - $122 Let's hope next week's earnings don't disappoint. As always, I share what I think and what I do. I'm not suggesting anyone follow my trades. You do you.🍻
NYSE:SNOWLong
by PaperBozz