$SNOW (Snowflake) | Long Analysis/ThesisNYSE:SNOW is primed for upside with a strong support level formed around $109 (indicated on chart).
We are expecting these 3 upside price levels to be significant points of resistance in the coming weeks, however the $120 strike options will prosper as we approach the $145 level and will be the first to get cut.
Remember: This is a great name that got unfairly beaten down. My good friend StockSavvyShay (on X) has written extensively as to how they've improved their business.
These are some of his main thoughts to consider:
Snowflake is enhancing its governance capabilities with Snowflake Horizon, a comprehensive cross-cloud governance model designed to simplify the management of complex data ecosystems. This solution offers integrated compliance, security, privacy, interoperability, and access features, allowing customers to efficiently manage data across various platforms and teams.
Key enhancements include:
- Achieving additional compliance certifications such as the UK's Cyber Essentials Plus and the FBI's CJIS Security Policy, ensuring top-tier security and privacy for public sector data.
Introducing Data Quality Monitoring, which simplifies the tracking and improvement of data quality metrics.
- Launching a Data Lineage UI that visualizes the impact of upstream changes on downstream data, enhancing data management transparency.
- Developing Differential Privacy Policies to protect sensitive data without compromising individual record security.
- Enhancing data classification with custom classifiers and a new UI-based workflow, supporting better data organization.
- Rolling out the Trust Center for centralized security and compliance monitoring, helping to reduce costs and prevent risk escalations.
In addition, Snowflake is improving cost management with a new Cost Management Interface, which provides a unified view of spend metrics across clouds and regions. This tool offers greater visibility into account-level usage, configurable spend views, and actionable recommendations to optimize resource allocation.
These advancements strengthen Snowflake's position as a leader in data governance and cost management, providing customers with effective tools to streamline operations and enhance efficiency.
RISKS: Convertible debt back in September leads me to believe that they are willing to decelerate growth and buy back their stock at a hefty multiple - this does give me cause for concern.
However, the fact that price has held - despite this news gives the power to the bulls.
