Analysts Remain Bullish on Snowflake Stock. But Are They Right?
Even though data cloud specialist Snowfake (NYSE: SNOW) reported better-than-expected fiscal second-quarter results earlier this week, shares have pulled back slightly since the report. But analysts seem unfazed. Indeed, the average 12-month analyst price target for the stock implies about 30% upside. Further, virtually every Wall Street analyst to release notes on the growth stock and update their model following the company's report has reiterated a buy rating (or an equivalent rating like "overweight" or "outperform").
But are analysts right to remain so bullish on the stock even as the company's top-line growth slows dramatically and management is guiding for a further slowdown in the current quarter?
Let's take a look at what analysts are saying and why investors may want to view their price targets skeptically.
Source Fool.com
