Snowflake saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 91 to 96.
Looking For Winning Stocks? How To Invest In Both Bull And Bear Markets
The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.
Snowflake has now climbed above a proper buy zone after clearing the 194.40 entry in a cup without handle.
One weak spot is the company's 47 EPS Rating, which tracks quarterly and annual earnings-per-share 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 B shows moderate buying by institutional investors over the last 13 weeks.
The company reported 71% earnings growth for Q1. It has now posted accelerating EPS growth for two consecutive quarters. Revenue growth came in at 26%, down from 27% in the prior quarter.
Snowflake holds the No. 5 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies is the No. 1-ranked stock 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.
