Wall Street Says This Software Name Is Set to Double
Stocks for cloud-computing companies, which sell software and services linked to remote data centers via the internet, have experienced a horrible start to 2022. While the Nasdaq Composite Index is down nearly 30% year to date, many cloud stocks have fallen much lower.
Take Snowflake (NYSE: SNOW), for example. The company went public in September 2020, when shares opened for trading at around $240, then rallied to near $400 within months. However, this year, Snowflake is down over 60%. So, the question is: Is now the time to buy?
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Source Fool.com
