What's Going On With Snowflake Stock?

Snowflake Inc. SNOW shares are trading lower Wednesday. RBC Capital analyst Matthew Hedberg maintained Snowflake with an Outperform rating and lowered the price target from $226 to $183.

The Details:

Multiple analysts also updated coverage on Snowflake Wednesday: 

• Needham analyst Mike Cikos reiterated Snowflake with a Buy rating and maintained a $210 price target.
• Mizuho analyst Gregg Moskowitz maintained Snowflake with a Buy and lowered the price target from $205 to $180.
• Wedbush reiterated its Neutral rating and maintained a $210 price target on the stock.
• Piper Sandler analyst Brent Bracelin maintained an Overweight and $240 price target on the stock.

Snowflake's stock has fallen 16% after the company reported mixed first-quarter results in May. Snowflake reported revenue increased 33% year-over-year to $828.7 million which beat the consensus estimate of $785.87 million. However, the company reported earnings of 14 cents per share, missing analyst estimates of 18 cents per share.

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Should I Sell My SNOW Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Snowflake have decreased by 21.62% in the past year. An investor who bought shares of Snowflake at the beginning of the year would take a loss of $56.61 per share if they sold it today. The stock has fallen 16.71% over the past month, meaning an investor who bought shares on May 1 would see a capital loss of $25.26.

Snowflake shares have an all-time high of $401.89, representing 203.29% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Snowflake stock currently has an RSI of 8.18, indicating oversold conditions.

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SNOW Price Action: According to Benzinga Pro, Snowflake shares are down 3.15% at $132.69 at the time of publication Wednesday.

Image: Courtesy of Snowflake, Inc.