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Snowflake Initiated With Neutral Rating By Atlantic -Breaking


© Reuters

Sam Boughedda — Snowflake Inc (NYSE:)After Atlantic Equities analyst Peter Sazel began coverage, the company, which is a cloud-based data storage company that uses computer technology, was flattened on Thursday.

According to the analyst, the price target was $240. Snowflake also benefits from unique value propositions, market shares, and long runways for growth.

Sazel stated that they believe the stock price is adequate and they are not buyers at current levels.

Sazel wrote that the stock’s performance has been below the 29% mark, which suggests long-term growth. However, forecasts currently exceed estimates so “it doesn’t suggest upside from current share price.”

Stock of Snowflake fell by 31% during 2022, making it a challenging year.

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