Snowflake's Upcoming Earnings: Balancing Investor Optimism with Analyst Caution Ahead of 2Q
Portfolio Pulse from Anusuya Lahiri
Ahead of Snowflake's 2QFY24 earnings report, Needham analyst Mike Cikos reiterated a Buy rating with a $216 price target. Investors expect roughly $645 million - $650 million in Product Revenue during 2Q. Cikos expects revenue of $657.95 million in Q2 and an adjusted EPS of $0.12. Citigroup analyst Tyler Radke maintained Snowflake with a Buy and raised the price target from $189 to $191. Guggenheim analyst John Difucci reiterated a Sell and a $105 price target. Difucci expects revenue of $661.6 million in Q2 and an adjusted EPS of $0.04.
August 22, 2023 | 7:03 pm
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NEUTRAL IMPACT
Datadog was mentioned in relation to Snowflake's upcoming earnings report, but no specific impact on the company was discussed.
Datadog was mentioned in the news, but there was no specific information or analysis provided that would impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 10
RELEVANCE 20
NEUTRAL IMPACT
Analysts have mixed views on Snowflake ahead of its 2QFY24 earnings report. Needham and Citigroup maintain a Buy rating while Guggenheim reiterates a Sell.
The news directly pertains to Snowflake and its upcoming earnings report. The mixed views from analysts could lead to uncertainty in the market, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100