One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Snowflake now clears that threshold, with a jump from 80 to 83 Friday.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
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Snowflake is not currently offering a proper buying opportunity. See if the stock goes on to form a sound pattern that could kick off a new climb.
The company posted -20% EPS growth last quarter, while sales growth came in at 28%.
The company holds the No. 62 rank among its peers in the Computer Software-Enterprise industry group. Klaviyo, Cloudflare and ServiceNow are among the top 5 highly rated stocks within the group.
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