On Tuesday, Snowflake got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.
Snowflake has now climbed above a proper buy zone after clearing the 194.40 buy point in a cup without handle.
One weak spot is the company's 48 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors over the last 13 weeks.
The company posted a 71% rise in earnings for Q1. That marks two straight reports with rising EPS gains. Revenue growth fell to 26%, down from 27% in the previous quarter.
Snowflake holds the No. 6 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare 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.
