EAT

🔔End of Day Trading Update🔔 📅Wednesday 15/6/2022📅 🟢Bullish Activity🟢 $SNOW Moving higher this morning after Canaccord Genuity upgraded the Data Cloud company to Buy from Hold and put a $185.00 price target on the stock. The upgrade comes after analyst David Hynes attended the company’s Analyst Day. Hynes stated, “This is a business that we expect should sustain growth rates in the 35-40%+ range over the next few years as it scales through $5B in revenue. So if we take management’s C2028/F2029 targets at face value ($10B in product revenue and 25% FCF margins), then SNOW shares are too cheap. Here’s the simple math: 35x C2028 FCF of $2.5B gets you an enterprise value of $87.5B in 4 years from now (assuming we’ll be looking at C2028 estimates in mid-2026). If we give SNOW credit for about $5B in net cash at that time and assume roughly 385M shares outstanding, that gives us a roughly $240 stock in 4 years, which is better than a 20% annual return from here (35x EV/FCF checks out