Price Crosses Moving Average
Previous Close | 147.91 |
Open | 146.86 |
Bid | 149.25 x 1300 |
Ask | 149.90 x 1000 |
Day's Range | 144.82 - 152.90 |
52 Week Range | 110.26 - 205.66 |
Volume | |
Avg. Volume | 6,018,720 |
Market Cap | 48.89B |
Beta (5Y Monthly) | 0.74 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -2.12 |
Earnings Date | Aug 22, 2023 - Aug 28, 2023 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 181.70 |
Hence, investors may want to treat it as an opportunity to add shares in the software-as-a service (SaaS) stock. However, Snowflake's data cloud is arguably best suited for storing and applying data, and with the rising dependence on AI, this SaaS product has become more critical.
Snowflake's (NYSE: SNOW) stock plunged 17% on May 25 after the cloud-based data warehousing company posted its latest earnings report. For the first quarter of fiscal 2024, which ended on April 30, its revenue rose 48% year over year to $624 million and exceeded analysts' expectations by $15 million.
Snowflake (NYSE: SNOW) downgraded estimates of revenue and profit for the rest of the year as clients tightened budgets. Fool.com contributor and finance professor Parkev Tatevosian discusses whether that's a buying opportunity for Snowflake stock investors.
The data cloud provider reported a 50% year-over-year increase in revenue for the first quarter of fiscal 2024, which shows a significant slowing in the company's top-line growth. Snowflake's revenue growth is continuing to decelerate as companies tighten their spending on cloud services, and management expects these trends to continue through 2023. Management was upfront on the earnings call, explaining that the near-term demand for the data cloud platform is weakening.
The data warehousing specialist had long been among the fastest growers in cloud computing, but its first-quarter earnings report shows that it can't escape the broader challenges in the sector. Snowflake offered disappointing guidance in its first-quarter earnings report, sending the stock down 17% on the news as the company forecast a significant decline in revenue growth over the remainder of the year. Product revenue in the first quarter grew 50% to $590.1 million, and overall revenue rose 48% to $623.6 million, which topped estimates at $608.4 million.
Dispiriting guidance and bearish analyst changes pushed the company's share price down over the past few trading days.
Growth is slowing. But that doesn't mean the data cloud specialist's growth rates aren't still high.
Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades for Snowflake, MongoDB , Digital Turbine, and Annexon. Snowflake (NYSE:SNOW) was downgraded at two Wall Street firms after reporting its Q1 earnings, resulting in a share price drop of more than 16% yesterday, as InvestingPro reported in real-time. While Q1 results came in better than expected, the company’s outlook disappointed investors.
(Bloomberg) -- Snowflake Inc.’s stock had its worst day ever after the company gave a quarterly sales outlook that fell short of expectations, suggesting that customers have continued trimming their spending for cloud software amid uncertain economic conditions. Most Read from BloombergWorld’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion RallyManchin Gets Mountain Valley Pipeline Deal Into Debt BillTraders Ready to Embrace Riskier Assets After Debt-Cap DealBiden, Mc
Snowflake earnings topped estimates but SNOW stock plunged as its product revenue outlook for the July quarter missed analyst expectations.
Snowflake (NYSE: SNOW) dropped over 15% after its recent earnings report, and the stock is down over 60% from its all-time highs and over 38% since its first day of trading after its IPO in September of 2020.
All the talk seems to be about AI stocks and not the best cloud computing stocks. Despite the trendiness of the former group, the latter remains quite attractive. Growth rates have been strong and many firms are profitable. Instead of focusing solely on artificial intelligence, investors should be looking for cloud computing stocks to buy too. Cloud-computing was a key investing theme, but it’s taken a back seat to AI and other trends in recent years. Still, it’s been a consistent and durable tr
“Finding the next Google” is a catchphrase among investors who seek to invest in one of the next trillion-dollar companies before they become as influential. However, navigating the stock market and finding such candidates is like finding a needle in a haystack. Even that might be an understatement considering the harsh environment we are in right now and the tough competition in everything tech related. However, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) itself could be of help here. Its new AI chatb
Snowflake's (SNOW) first-quarter fiscal 2024 results reflect growth in product revenues and customer-base expansion amid higher expenses.
Cloud giant Snowflake is seeing its shares getting clobbered after issuing a disappointing outlook. That stands in contrast to the upbeat growth forecast from chip maker Nvidia.
The company also took this opportunity to go all-in on artificial intelligence (AI). In a digital nutshell, Snowflake is doing business as usual despite a challenging economy, and the company is making a sharp turn into an explosive AI opportunity. As usual (more on the repeatable trend in a moment), Snowflake delivered financial results above the top end of management's guidance.
Shares of cloud-based data software company Snowflake (NYSE: SNOW) sank on Thursday after the company announced financial results for the fiscal first quarter of 2024 and lowered its forward guidance. In Q1, which ended in April, Snowflake generated product revenue of $590 million, up 50% year over year. In light of April's slowdown, Snowflake's management lowered its full-year revenue guidance.
[**Nvidia (NVDA)**](https://www.wsj.com/market-data/quotes/NVDA): The chipmaker's stock [rose more than 20%](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-25-2023/card/nvidia-closes-in-on-1-trillion-valuation-eqtji867uUqJOKb2DxKj) after it projected record sales for the current quarter, driven by growing appetite for [AI technology](https://www.
The Yahoo Finance Live team reports on the decline of Snowflake shares on cloud demand warnings and the company's full-year outlook amid the economic slowdown.
The valuation of Snowflake stock, the biggest software IPO ever, remains controversial. Here is what technical analysis says about buying SNOW stock.
Q1 2024 Snowflake Inc. Earnings Call
While results for the quarter ended in April were solid, the company provides a disappointing outlook for the July quarter, and reduces its full-year view.
Investing.com -- Stocks in focus in premarket trade on Thursday, May 25th. Please refresh for updates.
With me in Bozeman, Montana are Frank Slootman, our chairman and chief executive officer; Mike Scarpelli, our chief financial officer; and Christian Kleinerman, our senior vice president of product, who will join us for the Q&A session. During today's call, we will make forward-looking statements, including statements related to the expected performance of our business, future financial results, strategy, products and features, long-term growth, our stock repurchase program, and overall future prospects.
Earnings results after the close of regular trading on Wednesday showed widely different responses from investors.