Stock Track | Snowflake Plummets 5.18% Intraday as Analysts Slash Price Targets

Stock Track04-24 21:53

Snowflake's stock plummeted 5.18% during intraday trading on Friday, reflecting significant selling pressure.

The sharp decline follows a wave of price target cuts from major investment banks. BofA Securities reduced its target to $195 from $275 while maintaining a Neutral rating, and UBS cut its target to $210 from $235 while keeping a Buy rating. These downward revisions have diminished near-term confidence among investors, intensifying the selling pressure on the stock.

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