Snowflake saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 88 to 91.
IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating of above 80 at the beginning of a new price run.
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The IBD 50 stock broke out earlier, but has fallen back below the prior 186.90 entry from a cup without handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also understand that the latest consolidation is a later-stage base, and those involve more risk.
The company showed -20% EPS growth in the latest quarterly report. Sales rose 28%. Keep an eye out for the company's next round of numbers on or around Feb. 26.
The company earns the No. 49 rank among its peers in the Computer Software-Enterprise industry group. Enfusion, Samsara and Klaviyo are among the top 5 highly rated stocks within the group.
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