Why Snowflake Crushed the Market on Tuesday
Frosty data storage company Snowflake (NYSE: SNOW) had a hot day on the market Tuesday. Its stock closed over 7% higher, trouncing the sub-1% gain of the S&P 500 index. A new product announcement helped, but it was the inclusion on a new list of prominent growth stocks compiled by a prestigious investment bank that really sent the shares skyward.
Despite the recent comeback in tech stock prices, quite a few still trade at attractive levels. That, at least, is the view of Morgan Stanley analyst Keith Weiss. He published a new report on the subject, in which he identified the best "growth at reasonable price" (GARP) stocks in the sector. Snowflake came in as the best large-cap GARP company in the sector, followed by Zscaler and CrowdStrike.
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Source Fool.com
