SNOWFLAKE INC-CLASS A (NYSE:SNOW) has been identified as a high-growth momentum stock that aligns with Mark Minervini’s Trend Template strategy. The company’s cloud data platform and strong technical setup make it a compelling candidate for investors seeking growth opportunities.
Why SNOW Fits the Minervini Trend Template
Minervini’s strategy focuses on stocks exhibiting strong uptrends with clear technical strength. SNOW meets these criteria:
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Price Above Key Moving Averages:
- Current price ($210.85) is well above the 50-day SMA ($170.01), 150-day SMA ($165.47), and 200-day SMA ($152.88).
- The 50-day SMA is above both the 150-day and 200-day SMAs, confirming bullish momentum.
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Upward-Trending Moving Averages:
- The 200-day SMA is rising, indicating a sustained long-term uptrend.
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Strong Relative Strength:
- SNOW’s relative strength (94.39) places it in the top 6% of all stocks, showing market leadership.
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Proximity to 52-Week High:
- Trading near its 52-week high ($214.83), signaling strong demand.
High Growth Momentum Fundamentals
Beyond technical strength, SNOW demonstrates robust growth metrics:
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Revenue Growth:
- Quarterly revenue growth (25.7% YoY) and annual revenue growth (29.2%) highlight strong business expansion.
- Revenue estimates for the next quarter and year have been revised upward, reflecting positive analyst sentiment.
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Earnings Momentum:
- Recent quarterly EPS growth (71.4% YoY) shows improving profitability.
- The company has beaten EPS estimates in all of the last four quarters, with an average beat of 29.8%.
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Free Cash Flow Growth:
- Free cash flow per share grew 21.3% over the past year, indicating healthy cash generation.
Technical Outlook
SNOW’s technical rating of 10/10 reflects its strong trend across short and long-term timeframes. The stock is consolidating near resistance at $210.86, with support around $202.09. A breakout above resistance could signal further upside.
For a deeper analysis, review the full technical report here.
Our High Growth Momentum + Trend Template screener lists more stocks with similar characteristics.
Disclaimer
This is not investment advice. Always conduct your own research before making investment decisions.
