These Analysts Revise Their Forecasts On Snowflake After Q2 Results
Portfolio Pulse from Lisa Levin
Snowflake Inc reported better-than-expected Q2 earnings with a 36% YoY increase in revenue to $674.02 million, beating the consensus estimate of $662.24 million. The company also reported quarterly earnings of 25 cents per share, surpassing analyst estimates of 10 cents per share. Despite the positive results, Snowflake shares fell 5% to trade at $147.80. Post-earnings, several analysts revised their price targets on Snowflake.
August 24, 2023 | 3:16 pm
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Snowflake's Q2 earnings exceeded expectations, but its shares fell 5%. Analysts have revised their price targets on the company's stock.
Snowflake's better-than-expected Q2 earnings report should have been a positive catalyst for the stock. However, the 5% drop in share price indicates that the market had different expectations. The revised price targets by analysts could also influence the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100