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

Microsoft Corp. (NASDAQ:MSFT) reported strong Q3 results, attributed to its Cloud business, with Azure's revenue up 23% year-over-year. Analyst Brent Bracelin highlighted Azure's performance, particularly in AI, as exceeding expectations and noted Snowflake, Inc. (NYSE:SNOW) and MongoDB, Inc. (NASDAQ:MDB) as companies to watch due to their indirect exposure to Azure's success. Following the report, MSFT, SNOW, and MDB stocks all saw premarket trading increases.

Portfolio Pulse from Shanthi Rexaline

April 26, 2024 | 11:41 am

Snowflake announced the launch of Arctic, an enterprise-grade large language model, marking a significant expansion into AI services. This move is expected to enhance Snowflake's offerings in the data analytics and AI sectors, potentially increasing its competitive edge and attracting more enterprise customers.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:02 pm

Software stocks, including ASAN, CRWD, INTU, NET, NOW, PANW, SNOW, SOUN, TEAM, ZM, and ZS, are trading higher due to overall tech strength as Treasury yields fall.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:41 pm

Today's whale activity in the Information Technology sector highlighted unusual options trading for several companies, indicating varying sentiments. Notable activities include bearish call option sweeps for NVDA and ORCL, bullish calls for TSM, MCHP, MARA, and SNOW, and neutral positions for SMCI and MSFT. These movements suggest significant market interest and potential shifts in stock prices based on the options' sentiments and volumes.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 5:35 pm

Today's session highlighted significant options activity for 10 Information Technology stocks, indicating whale alerts that could signal potential trading opportunities. Notable activities include bearish put option sweeps for NVDA, ARM, INTC, and FTNT, and bearish call option sweeps for AAPL, SNOW, and TSM. Conversely, bullish sentiments were observed in MSFT and MARA call trades, and a bullish put sweep for SMCI. These movements suggest varying investor expectations and market sentiments towards these stocks.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 5:35 pm

Today's session highlighted significant options activity in the Information Technology sector, with notable movements in stocks like NVDA, MRVL, AAPL, BSY, SMCI, TSM, CRM, AKAM, SNOW, and MSTR. The activity ranged from bullish to bearish sentiments, involving both call and put options across various expiration dates and strike prices. This unusual options activity could indicate upcoming market movements or investor expectations for these companies.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:35 pm

Snowflake's (NYSE:SNOW) short interest has increased by 10.41% since the last report, with 9.60 million shares sold short, representing 2.97% of its float. The current short interest suggests a bearish sentiment among investors, though it's lower than the peer group average of 6.74%. The article suggests that an increase in short interest doesn't necessarily predict a stock price fall.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 1:30 pm

Tech, AI, and software stocks are trading lower due to an increase in Treasury yields, affecting companies like ADSK, AI, ARM, AVGO, BB, BBAI, CRWD, DOCU, GFS, HUBS, MRVL, OKTA, PANW, PLTR, SNOW, SOUN, and ZS.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:36 pm

Today's session highlighted significant options activity in the Information Technology sector, with notable movements in stocks like AMD, NVDA, CRM, BILL, MU, SMCI, SNOW, ALAB, AMAT, and WDC. The activity ranged from bullish to neutral and bearish sentiments, involving both call and put options with various expiration dates and strike prices. This could indicate traders' expectations for these stocks' future movements.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 5:35 pm

Wedbush Securities analyst Daniel Ives predicts a significant increase in IT spending on AI technologies, estimating 8%-10% of IT budgets in 2024, up from less than 1% in 2023. This surge is expected to benefit major tech companies like Microsoft, Salesforce, Palantir, MongoDB, Oracle, Snowflake, and Elastic, with Microsoft and MongoDB receiving Outperform ratings and high price targets, while Snowflake has a Neutral rating.

Portfolio Pulse from Surbhi Jain

April 15, 2024 | 1:04 pm

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