What's Going On With Snowflake Stock?
Portfolio Pulse from Adam Eckert
Snowflake Inc (NYSE:SNOW) is in focus as it prepares to report Q4 earnings, with expectations of 18 cents per share on $759.25 million revenue. The company has a history of beating estimates and has seen multiple analysts raise price targets ahead of the earnings. Snowflake's FY23 revenue growth was 69.41%, influenced by various factors including the macroeconomic environment. Economic conditions such as interest rates, inflation, and labor market strength could impact Snowflake's performance in the coming year.
February 28, 2024 | 4:44 pm
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Snowflake Inc is expected to report Q4 earnings with a history of beating estimates. Analysts have raised price targets, indicating optimism. FY23 saw significant revenue growth, but future performance may be influenced by macroeconomic factors.
Snowflake's consistent history of beating earnings estimates and the recent positive adjustments in analyst price targets suggest a bullish outlook for the stock in the short term. However, the company's performance and stock price movement will also depend on the broader macroeconomic environment, including interest rates and inflation, which could introduce volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100