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Snowflake Stock Is Down 50%. One Analyst Just Turned Bullish

May 18, 2021
Blair Abernethy
BARRONS

Snowflake shares are trading sharply higher after Rosenblatt Securities analyst Blair Abernathy made an upbeat call on the fast-growing cloud-based provider of data- warehousing software.

He lifted his rating on the stock to Buy from Neutral, setting a target of $285 for the stock price, implying a potential gain of almost 34% from Mondays’ close. On Tuesday morning, Snowflake was up 5.5%, to $224.26.

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