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Articles in “SNOW”

Why Are Snowflake (SNOW) Shares Soaring Today Cover Image
NYSE SNOW Why It Moves
Why Are Snowflake (SNOW) Shares Soaring Today

Jabin Bastian 2023/06/02 3:50pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) jumped 7.42% in the morning session after MongoDB reported a beat-and-raise quarter where key metrics broadly exceeded expectations and guidance was strong. Consumption-based revenue models in SaaS such as MongoDB, Datadog, Snowflake, and certain of Cloudflare's products have been much debated--will an uneven macro hurt these companies as customers cut headcount and streamline spend or will ongoing increases in demand be reflected much faster than with traditional subscription models? MongoDB's earnings results show that demand is healthy, and while there may be cost containment efforts, they are not hindering the company's results. Additionally, there's a case to be made that demand for AI and the technology load that AI creates is a peripheral benefit to SaaS companies that enable data & analytics, infrastructure monitoring, and that are generally pickaxes for software engineers and developers. ... Continue Reading Continue Reading
Why Snowflake (SNOW) Stock Is Falling Today Cover Image
NYSE SNOW Why It Moves
Why Snowflake (SNOW) Stock Is Falling Today

Adam Hejl 2023/05/25 1:34pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) fell 13.4% in the after-market session after the company reported first-quarter revenue, product revenue, and earnings per share (EPS) that surpassed analysts' expectations. Gross margin also improved. However, net retention rate deteriorated. In addition, both next quarter and full year guidance for product revenue and operating income margin missed expectations--this is the major driver of the stock move down. Product revenue guidance was lowered, with the company observing slower-than-expected revenue growth since Easter, as customers remained hesitant to sign large multi-year deals. Overall, it was a complicated quarter for Snowflake with a weak near-term outlook. ... Continue Reading Continue Reading
Why Snowflake (SNOW) Stock Is Up Today Cover Image
NYSE SNOW Why It Moves
Why Snowflake (SNOW) Stock Is Up Today

Kayode Omotosho 2023/05/08 4:53pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) jumped 5.79% in the morning session after analyst Brad Reback of Stifel upgraded the stock's rating from Hold to Buy and raised the price target from $145 to $185. The analyst cited positive commentary from key players like Microsoft, Datadog, JFrog, and Confluent regarding earnings, which may suggest that "optimization headwinds are starting to slow." The analyst added that "with easier comparisons in the back half of the year, revenue growth may stabilize around the high 30% range." After the initial pop the shares cooled down to $159.53, up 3.42% from previous close. ... Continue Reading Continue Reading
Why Is Snowflake (SNOW) Stock Rocketing Higher Today Cover Image
NYSE SNOW Why It Moves
Why Is Snowflake (SNOW) Stock Rocketing Higher Today

Kayode Omotosho 2023/04/26 4:00pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) jumped 6.3% in the after-market session after stocks, especially tech names, rebounded following Microsoft and Alphabet's strong Q1 results, which surpassed top and bottom-line estimates to kickstart the new earnings season. Cloud services continued to be in high demand as Microsoft's cloud unit (Microsoft Azure) reported solid growth despite negative channel feedback and fears of cost optimization by customers. Google Cloud also beat estimates and Search growth was healthy, a good sign for the macro since advertising is a leading indicator. Azure and Google Cloud results were positive read-throughs for SaaS companies in general but particularly for those with revenue models where customers are billed based on the volume of cloud resources consumed due to aforementioned fears of customer spend optimization. ... Continue Reading Continue Reading
Why Snowflake (SNOW) Shares Are Sliding Today Cover Image
NYSE SNOW Why It Moves
Why Snowflake (SNOW) Shares Are Sliding Today

Adam Hejl 2023/04/05 4:36pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) fell 6.64% in the morning session after the ADP payrolls report showed that the private sector added 145k jobs in March, much lower than analysts' expectations for 210k. This triggered concerns of a potential recession amid continued comments from Fed officials that rate hikes are still needed to tame inflation. As a reminder, higher rates have a negative impact on equity valuations, as future cash flows must be discounted back. ... Continue Reading Continue Reading
Why Is Snowflake (SNOW) Stock Rocketing Higher Today Cover Image
NYSE SNOW Why It Moves
Why Is Snowflake (SNOW) Stock Rocketing Higher Today

Anthony Lee 2023/03/31 5:58pm

What Happened: Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) jumped 5.23% in the morning session after the Commerce Department reported that the personal consumption expenditures price index, a measure of inflation that the Fed monitors closely, rose by 5% in February compared to the same period last year, below expectations. This demonstrates that inflation is softening and may mean to the Fed that there is less urgency to hike rates further. ... Continue Reading Continue Reading