Analysts Revise Snowflake Predictions Ahead of Earnings Reveal

Snowflake Inc. Prepares for Earnings Release
Snowflake Inc. (NYSE: SNOW) is set to unveil its earnings results, anticipated to occur shortly after the closing bell on an upcoming Wednesday. Analysts are eagerly awaiting the outcomes, with expectations of positive growth following a strong performance in the previous year.
Expected Earnings Performance
Market analysts predict that Snowflake will report quarterly earnings of 27 cents per share. This represents a notable increase from the 18 cents per share recorded in the same quarter of the previous year. The forecasted quarterly revenue stands at an impressive $1.09 billion, a solid leap from the $868.82 million reported a year before, showcasing the company’s significant growth.
Historical Performance and Analyst Trends
Leading into this earnings report, Snowflake has consistently surpassed analysts' expectations, achieving better-than-expected results over the past four quarters. This track record has established a sense of confidence in the company's financial management and growth strategies.
Current Stock Performance
As anticipation builds up towards the earnings announcement, Snowflake shares experienced a slight decline, closing 0.2% lower at $194.35 on the last trading day.
Analyst Ratings: Insights and Future Projections
Recent ratings from notable analysts provide insight into the stock's potential for growth:
1. JMP Securities
Analyst Patrick Walravens maintains a Market Outperform rating with a price target set at $260.
2. DA Davidson
Analyst Gil Luria upholds a Buy rating and sets a price target at $250, reflecting positive market sentiment.
3. Citigroup
Tyler Radke reports a maintained Buy rating and has increased the price target from $245 to $250.
4. UBS
Analyst Karl Keirstead also holds a Buy rating, adjusting the price target down from $265 to $250.
5. Stephens & Co.
Brett Huff has initiated coverage with an Overweight rating and sets a price target at $261.
What Analysts Recommend for SNOW Stock
Given the bullish sentiment from analysts, it seems like a sound decision for potential investors to consider SNOW stock, especially in light of the upcoming earnings announcements.
Frequently Asked Questions
What is Snowflake Inc.'s stock symbol?
Snowflake Inc. trades under the symbol SNOW on the NYSE.
When does Snowflake plan to release its earnings?
Snowflake is expected to release its earnings results shortly after the market closes on an upcoming Wednesday.
What did analysts predict for Snowflake's earnings?
Analysts are anticipating Snowflake will report earnings of 27 cents per share for the upcoming quarter.
How have Snowflake's stocks performed historically?
The company has exceeded analyst expectations in the previous four quarters, indicating strong performance.
What are the recent analyst ratings for Snowflake?
Recent ratings from various analysts suggest a generally positive outlook on Snowflake’s performance moving forward.
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