Snowflake Stock: Finally, It's A Buy

Jun. 25, 2024 12:54 PM ETSnowflake Inc. (SNOW) StockNET, PLTR, SNOW89 Comments
Victor Dergunov
Investing Group Leader

Summary

  • Snowflake Inc. stock has declined by 70% from its peak valuation of $420 due to the AI selloff and other factors.
  • Snowflake has significant untapped AI potential, making it a possible buy opportunity with limited downside.
  • Snowflake is cheaper than recently, with strong sales growth and profitability potential, making it a compelling investment at current levels.
  • Looking for more investing ideas like this one? Get them exclusively at The Financial Prophet. Learn More »

Beautiful snow flake crystal with snow background

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Snowflake Inc. (NYSE:SNOW) "Snow" stock has been demolished after peaking at about $420. Due to the AI selloff and other factors, its share price is now about $125, representing a 70% decline from its peak valuation. Moreover, Snow's

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This article was written by

Victor Dergunov
51.98K Followers

Hi, I’m Victor Dergunov, MBA, and I’ve been an active investor for over 20 years. My passion for investing started early, and I’ve spent two decades honing strategies that consistently deliver results. Whether it's tech giants like Apple and Tesla or opportunities in commodities and crypto, I provide diversified insights to help you succeed. Join me, and let’s take your investing to the next level.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of SNOW, GOOG, AMZN either through stock ownership, options, or other derivatives. 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.

I am long a diversified portfolio with hedges.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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