Snowflake Inc.

Company Overview: Snowflake Inc. (NYSE: SNOW) provides a cloud-based data platform in the United States and internationally.

As per our previous Report published on SNOW as on 23^rd June 2022, Kalkine provided an ‘Buy’ stance on the stock at USD 127.36 based on ‘Company’s latest performance in Q1FY23’, and the stock price has moved by 25.6% since then and the price is now moved to the Resistance 2 level.

Below are the details of support and resistance levels provided in our previous report:

SNOW’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group) 

Considering the resistance, target level attainment, current trading levels and risk associate, a “Sell” rating is assigned on the “SNOW” stock at the current market price of USD 160.05 (as on July 21, 2022, at 06:52 AM PDT) 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 July 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ) and or REFINITIV. Typically, all  sources (NYSE, NASDAQ or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’