This Warren Buffett Stock Has 22% Upside, According to Wall Street
When you think of a typical Warren Buffett stock, you might think of a company with a dull-but-steady business. Additionally, the stock likely has a low valuation, which appeals to Buffett's value investing style. However, one stock he owns doesn't fit any of these criteria.
Snowflake (NYSE: SNOW) stock makes up a mere 0.3% of Berkshire Hathaway's portfolio, but is unlike any other stock the holding company owns. Snowflake is a cloud computing company that Buffett and Berkshire were able to invest in before the stock's public debut. Trading around $153 a share these days, Snowflake has managed to gain about 27% from its initial public offering price of $120 -- where Buffett got in almost two years ago. But the stock started trading at $245 a share back in September 2020, so it definitely is trading down. Since then, the business has expanded significantly, making the valuation more reasonable thanks to the price drop.
With the average analyst projecting a $187.12 price target (22% upside), is Snowflake a stock you should have on your watchlist?
Source Fool.com
