Why Snowflake Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Snowflake Inc. (NYSE:SNOW) shares are trading higher alongside the broader tech sector, ahead of NVIDIA's earnings report. Snowflake is also set to report second-quarter earnings after the market close, with expected earnings of 10 cents per share and revenue of $662.24 million. Rosenblatt analyst Blair Abernethy reiterated Snowflake with a Neutral and maintained the $170 price target.
August 23, 2023 | 7:10 pm
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Snowflake's stock is rising ahead of its Q2 earnings report and NVIDIA's earnings report. The company's expected earnings are 10 cents per share with a revenue of $662.24 million. Rosenblatt analyst maintains a $170 price target.
The rise in Snowflake's stock can be attributed to the anticipation of its Q2 earnings report and NVIDIA's earnings report. The expected earnings and revenue figures, along with the maintained price target by Rosenblatt analyst, indicate a positive outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100