Snowflake Investors 'Further Confused' After Q2 Earnings: One Analyst Says They Know Why
Portfolio Pulse from Priya Nigam
Snowflake Inc (NYSE:SNOW) shares fell after reporting weaker-than-expected quarterly sales. Analysts from JPMorgan, Needham, and Goldman Sachs provided mixed reviews, with some lowering price targets but maintaining positive ratings. Despite solid bookings and revenue growth, investors were disappointed by the guidance and expected stronger performance.
August 22, 2024 | 4:05 pm
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NEGATIVE IMPACT
Snowflake's shares dropped 13.5% after reporting weaker-than-expected quarterly sales. Analysts maintained positive ratings but lowered price targets, citing solid bookings but disappointing guidance.
Snowflake's stock price fell significantly due to weaker-than-expected sales and guidance, despite analysts maintaining positive ratings. The lowered price targets and investor disappointment suggest a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100