Streetbeat News

SNOW

Snowflake Inc.

https://www.snowflake.com

Industry

Software - Application

Snowflake Inc. provides a cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of sizes in a range of industries. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.

Open

123.00

Mkt cap

41B

Volume

3.7M

High

123.00

P/E Ratio

-38.87

52-wk high

237.72

Low

119.66

Div yield

N/A

52-wk low

107.13

Snowflake Inc (NYSE:SNOW) shares are falling due to a blog post by Alphabet Inc's (NASDAQ:GOOG) cybersecurity subsidiary Mandiant, which revealed a cyber attack targeting Snowflake customer database instances. The attack, attributed to threat actor UNC5537, involves data theft and extortion using compromised customer credentials. Mandiant and Snowflake are investigating and coordinating with law enforcement.

Portfolio Pulse from Adam Eckert

June 10, 2024 | 4:43 pm

Snowflake is under scrutiny as traders circulate information about UNC5537, a threat actor group targeting Snowflake database customers for data theft and extortion.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 1:40 pm

Advance Auto Parts (AAP) is investigating a potential data breach linked to a Snowflake (SNOW) cyber incident, affecting millions of customers and employees. Snowflake is urging customers to implement advanced security measures. Both AAP and SNOW stocks saw minor declines.

Portfolio Pulse from Anthony Noto

June 07, 2024 | 8:09 pm

Deep-pocketed investors have shown unusual options activity in Snowflake (NYSE:SNOW), with a mix of bullish and bearish sentiments. This significant move suggests potential upcoming events for the company. Analysts have set an average price target of $202.0, with ratings ranging from Outperform to Neutral.

Portfolio Pulse from Benzinga Insights

June 07, 2024 | 6:17 pm

The article highlights four oversold tech stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are SentinelOne Inc (NYSE:S), Nutanix Inc (NASDAQ:NTNX), Snowflake Inc (NYSE:SNOW), and Five9 Inc (NASDAQ:FIVN).

Portfolio Pulse from Avi Kapoor

June 07, 2024 | 1:05 pm

Snowflake Inc (NYSE:SNOW) is under scrutiny due to data breaches affecting major clients like Santander Bank and Ticketmaster. Hackers claimed to have stolen millions of customer records, and Australian authorities confirmed several compromises. Snowflake acknowledged unauthorized access but found no direct system breach. The stock is trading lower, and investors can gain exposure via Vanguard Total Stock Market ETF (NYSE:VTI) and Vanguard Information Tech ETF (NYSE:VGT).

Portfolio Pulse from Anusuya Lahiri

June 06, 2024 | 2:19 pm

Rosenblatt analyst Blair Abernethy maintains a Buy rating on Snowflake (NYSE:SNOW) with a $195 price target.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:33 pm

Snowflake Inc (NYSE:SNOW) is focusing on AI acquisitions to boost growth under new CEO Sridhar Ramaswamy. Despite a failed $1 billion acquisition of Reka AI, Snowflake plans to onboard 35 employees from AI startup TruEra. The company aims to revitalize revenue growth, which has slowed significantly. Snowflake faces competition from Databricks and cloud giants like Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN). Snowflake's stock has dropped 30% year-to-date.

Portfolio Pulse from Shivani Kumaresan

June 05, 2024 | 5:33 pm

Snowflake Inc. (NYSE:SNOW) shares are trading lower after multiple analysts updated their coverage. RBC Capital lowered its price target from $226 to $183, while other analysts maintained their ratings with varied price targets. The stock has fallen 16% since mixed Q1 results in May, with revenue beating estimates but earnings missing. Snowflake shares are down 21.62% over the past year and 16.71% over the past month, currently trading at $132.69.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 4:59 pm

RBC Capital analyst Matthew Hedberg maintains an Outperform rating on Snowflake (NYSE:SNOW) but lowers the price target from $226 to $183.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:34 pm

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