Why Snowflake Stock Is Heating Up Thursday
Portfolio Pulse from Adam Eckert
Snowflake Inc (NYSE:SNOW) stock rises after reporting Q3 earnings and revenue that surpassed estimates, with a 32% year-over-year revenue increase. Analysts have raised price targets, reflecting optimism in the company's performance and future guidance. Snowflake expects Q4 product revenue to grow 29-30% year-over-year and full-year product revenue to increase by 37%.
November 30, 2023 | 1:55 pm
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POSITIVE IMPACT
Snowflake's stock is positively impacted by its Q3 earnings beat and raised analyst price targets, indicating strong financial health and growth prospects.
Snowflake's better-than-expected Q3 results and positive guidance, along with multiple analysts raising their price targets, suggest a strong short-term bullish sentiment for the stock. The significant year-over-year growth in revenue and the number of high-value customers contribute to the positive outlook.
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