Snowflake had its Relative Strength (RS) Rating upgraded from 78 to 86 Friday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
While Snowflake is not near an ideal buy zone right now, see if it is able to form and break out from a proper base.
Earnings growth increased in the company's most recent report from -20% to -14%, but the top line fell from 28% to 27%. The next quarterly results are expected on or around May 21.
Snowflake holds the No. 24 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, ServiceNow and Shopify 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.
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