Why Snowflake, Twilio, and Skillz Are Falling Today

On an otherwise positive day for the S&P 500 and Nasdaq, tech stocks Snowflake (NYSE: SNOW), Twilio (NYSE: TWLO), and Skillz (NYSE: SKLZ) were going in the other direction. Shareholders can thank sell-side analysts for today's relative underperformance, as downgrades and price target decreases across these three names seem to be the culprit. Ahead of those figures, it appears analysts at UBS, Cowen, and Jefferies all thought it time to get their price targets closer to Snowflake's current share price under $140.