Why This Tech Stock Looks Like a Winner

Even with a recent slump in stocks there are still picks out there that can outperform the market. Snowflake Inc. (NYSE: SNOW) is a technology stock that can grow. The company has just released strong revenue data that investors won't ignore. Snowflake is a cloud computing service provider. It develops solutions for cloud management. These solutions help customers manage their data to organize and secure it. Snowflake software also helps businesses to meet their compliance targets. With an increased demand for big data cloud storage, Snowflake has the potential to grow. The company released its latest earnings report on Wednesday. The company reported revenue of $497 million, beating the $272 million reported a year ago. The stock jumped 4.19% in yesterday's trading session. It's now on track to outperform. It closed at $159.49 on Wednesday. It has an average target price of $195.24. In the premarket today, shares were trading close to $190.00. This gives more validity to the high-end target of $530.00. This stock could be a runaway success with the increased activity in the tech market today. Find breakout growth in the market. These investment strategies can lead you to better financial decisions. The information above is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are our own and we have not been compensated in any way to review the symbols mentioned above.  sponsored ads below “Holy Grail” Income Stock Revealed For over six years, my readers and I have taken advantage of a little-known income secret to fuel our retirement portfolios, and it's about time you did too. A way to collect "backdoor" income from pre-IPO Silicon Valley startups with one little-known stock. And with their next big dividend fast approaching - if you claim a stake today you'll guarantee a spot on their upcoming payout list. 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