SNOW
The market’s wobbling, but Snowflake is floating
Snowflake shares were climbing Tuesday while tech and the broader market were slipping, which is basically the investing version of showing up to a rainy barbecue in sunglasses and flip-flops. The spark? Citizens analyst Patrick Walravens reiterated a Market Outperform rating and kept the $325 price target intact.
Why traders cared
This wasn’t some massive thesis overhaul. It was more like a polite but firm, “Yep, we still like it here.” And in a market where sentiment can move a stock faster than fundamentals, that matters.
For Snowflake, the timing is especially interesting because the stock is still in repair mode:
- It’s trading below its 100-day and 200-day moving averages
- It’s trying to claw its way out of a larger downtrend
- Momentum is improving, but not exactly throwing a parade
The bigger picture
That makes this kind of rating call useful, but not magical. Bulls need Snowflake to keep building above key technical levels instead of snapping back the moment macro jitters show up again. In other words: this is a confidence boost, not a victory lap.
Big picture: Snowflake got a friendly reminder from Wall Street that the story isn’t broken — but the stock still needs to prove it can turn the rebound into something sturdier.