What's Going On With Snowflake Stock Today?
Portfolio Pulse from Ryan Gustafson
Snowflake Inc. (NYSE:SNOW) shares are trading down after the company posted Q1 financial results and lowered product revenue guidance for fiscal year 2024. Q1 revenue was $623.6 million, beating estimates, but full-year product revenue is now expected to be $2.6 billion. Altimeter Capital's Brad Gerstner remains positive on Snowflake, highlighting recent AI-focused acquisitions.
May 25, 2023 | 6:49 pm
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Snowflake shares are down after Q1 financial results and lowered product revenue guidance for FY2024. Altimeter Capital's Brad Gerstner remains positive on the company.
Snowflake's lowered product revenue guidance for FY2024 has led to a decline in its stock price. However, Altimeter Capital's Brad Gerstner remains positive on the company, citing recent AI-focused acquisitions as a sign of growth potential. This news is highly relevant and important for investors, as it directly impacts Snowflake's financial outlook and stock price.
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