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

Wedbush analyst Taz Koujalgi has reiterated a Neutral rating on Snowflake (NYSE:SNOW) and maintained a price target of $210.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 3:02 pm

Wall Street is expected to have a subdued start ahead of Nvidia's earnings report and the release of the Fed minutes. Index futures are trading lower, with the SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showing minor changes in premarket trading. Analysts are cautious about over-exuberance despite recent market gains. Viasat fell 11% and Urban Outfitters gained 6.50% in premarket trading following their earnings reports. Other notable companies reporting include Analog Devices, PDD Holdings, TJX Companies, Williams-Sonoma, Target, Vipshop, Snowflake, Synopsys, V.F. Corporation, and Zuora.

Portfolio Pulse from Shanthi Rexaline

May 22, 2024 | 11:21 am

Investors have taken a bearish stance on Snowflake (NYSE:SNOW) as indicated by unusual options activity. Benzinga's options scanner detected 9 uncommon options trades, with 55% of the sentiment being bearish. The major market movers are focusing on a price band between $90.0 and $200.0 for Snowflake. The stock is currently trading at $163.8, down by -0.59%, with an anticipated earnings release in 1 day. Analysts have mixed ratings with an average price target of $218.33.

Portfolio Pulse from Benzinga Insights

May 21, 2024 | 2:46 pm

JPMorgan analyst Mark Murphy issued ratings for enterprise software companies Zoom, Snowflake, Intuit, and Workday, highlighting short-term volatility but long-term growth potential. Murphy gave Neutral ratings to Zoom and Intuit, and Overweight ratings to Snowflake and Workday.

Portfolio Pulse from Hayden Buckfire

May 20, 2024 | 6:53 pm

Recent options trading trends in Snowflake (NYSE:SNOW) show a balanced sentiment among investors, with significant trades in both calls and puts. The stock is currently trading at $164.87, up by 1.86%, and has an upcoming earnings release in 2 days. Analysts have mixed ratings with a consensus target price of $218.33.

Portfolio Pulse from Benzinga Insights

May 20, 2024 | 4:16 pm

RBC Capital analyst Matthew Hedberg maintains an Outperform rating on Snowflake (NYSE:SNOW) but lowers the price target from $246 to $220.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:29 pm

JMP Securities analyst Joe Goodwin has reiterated a Market Outperform rating on Snowflake (NYSE:SNOW) and maintained a price target of $235.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:02 pm

Snowflake Inc (NYSE:SNOW) is in talks to acquire Reka AI for over $1 billion to boost its generative AI capabilities. Reka AI, founded by former Google and Meta researchers, specializes in large language models. Snowflake's stock has declined over 5% this year, and analysts have flagged potential growth slowdowns due to competition and customer transitions. Investors can gain exposure to Snowflake through the Spear Alpha ETF (NASDAQ:SPRX) and the TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 12:47 pm

Microsoft plans to introduce AMD's AI chips to its Azure cloud service, aiming to rival Nvidia's GPUs. This move is expected to enhance Azure's AI capabilities and alleviate the demand for Nvidia's GPUs. Microsoft will also preview new custom processors at the upcoming Build developer conference.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 10:05 am

Analysts from Piper Sandler and KeyBanc reiterated their Overweight ratings on Snowflake Inc (NYSE:SNOW) despite concerns about the adoption of Iceberg tables. The analysts noted that Iceberg adoption is still in its early stages and that broader enterprise adoption could be further out. They projected first-quarter revenue and EPS for Snowflake and highlighted positive usage trends and new product launches as potential growth drivers.

Portfolio Pulse from Anusuya Lahiri

May 16, 2024 | 5:47 pm

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