Snowflake saw a positive improvement to its Relative Strength (RS) Rating on Monday, rising from 79 to 83.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they launch their biggest price moves.
Risk Management In The Stock Market: How Much Money To Invest Now
While the stock is not near an ideal buying range right now, see if it manages to form and break out from a proper base.
While revenue growth fell last quarter from 28% to 27%, the bottom line grew -14%, up from -20% in the previous report.
Snowflake holds the No. 41 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, DocuSign and Paycom Software are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
