Skip to content
Subscriber Only

Snowflake Falls After Deutsche Bank’s Warning Over End to Rally

  • Further stock rally may be limited, Deutsche Bank says
  • Shares fell as much as 5.5% on Friday to the lowest in a week

Snowflake Inc.’s meteoric rise from a September trading debut may take a breather heading into the end of the year, according to Deutsche Bank.

Analyst Patrick Colville sees the risk-reward ratio for the soaring software company as balanced and warned that “winter is coming” for the stock and fellow high-flying companies. While pent-up demand for the group helped fuel recent rallies, upside “may be limited as we wrap up 2020 and investors look to protect their year,” he wrote in the note downgrading the stock to a hold rating from buy.