Snowflake Stock Is Falling Thursday: What's Driving The Action? (CORRECTED)
Portfolio Pulse from Adam Eckert
Snowflake Inc (NYSE:SNOW) reported strong Q2 results with revenue and EPS beating estimates. Despite this, analysts lowered price targets, and the stock fell 9.55%. The company announced a $2.5 billion share repurchase program extension and raised full-year revenue expectations.
August 22, 2024 | 1:21 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Snowflake reported better-than-expected Q2 results, with revenue and EPS surpassing estimates. Despite positive financials and an extended share buyback program, analysts lowered price targets, leading to a 9.55% drop in stock price.
Snowflake's Q2 results exceeded expectations, but the stock fell due to analysts lowering price targets. The company's positive outlook and share buyback extension were overshadowed by the market's reaction to the analyst revisions.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100