Snowflake (NYSE:SNOW) is scheduled to report fourth-quarter earnings on Wednesday, February twenty eighth, after market shut.
Analysts count on a year-over-year improve in each the highest and backside traces, with earnings per share of $0.18 on revenues of $760.22 million.
The cloud knowledge analytics firm is predicted to submit fourth-quarter outcomes modestly above expectations, as rising AI adoption will increase demand for its cloud choices. Analysts imagine Snowflake’s (SNOW) prospects have shifted from cost-cutting to development initiatives.
“Our checks level to robust giant deal reserving exercise in 4Q, prospects’ focus shifting from value optimization to rev era, and strengthening consumption tendencies exiting the qtr,” mentioned analysts at TD Cowen.
Brokerage Baird famous, “Optimization headwinds seem like abating, and migrating to the cloud stays a spotlight on the enterprise level–a key optimistic.”
Based on funding agency Baird, Snowflake (SNOW) is seen as top-of-the-line positioned corporations to learn from generative AI, itemizing it as considered one of its high software program picks for 2024.
Shares of Snowflake (SNOW) have surged over 49% within the final 12-months. Nevertheless, the inventory’s current positive factors have made some buyers nervous.
“Snowflake’s inventory has risen nearly 60% prior to now 3 months, however valuations are actually stretched and premiums are too excessive,” said SA analyst Uttam Dey.
During the last three months, the corporate has seen important revisions to its estimates. Its earnings per share estimates have been revised upwards 24 instances vs. 4 downward revisions, whereas its income estimates have seen 29 upward revisions, in comparison with two downgrades.
Seeking Alpha analysts at large think about SNOW a Maintain. This compares with average Wall Street rating of Purchase and SA Quant rating of Maintain.
Snowflake (NYSE:SNOW) is scheduled to report fourth-quarter earnings on Wednesday, February twenty eighth, after market shut.
Analysts count on a year-over-year improve in each the highest and backside traces, with earnings per share of $0.18 on revenues of $760.22 million.
The cloud knowledge analytics firm is predicted to submit fourth-quarter outcomes modestly above expectations, as rising AI adoption will increase demand for its cloud choices. Analysts imagine Snowflake’s (SNOW) prospects have shifted from cost-cutting to development initiatives.
“Our checks level to robust giant deal reserving exercise in 4Q, prospects’ focus shifting from value optimization to rev era, and strengthening consumption tendencies exiting the qtr,” mentioned analysts at TD Cowen.
Brokerage Baird famous, “Optimization headwinds seem like abating, and migrating to the cloud stays a spotlight on the enterprise level–a key optimistic.”
Based on funding agency Baird, Snowflake (SNOW) is seen as top-of-the-line positioned corporations to learn from generative AI, itemizing it as considered one of its high software program picks for 2024.
Shares of Snowflake (SNOW) have surged over 49% within the final 12-months. Nevertheless, the inventory’s current positive factors have made some buyers nervous.
“Snowflake’s inventory has risen nearly 60% prior to now 3 months, however valuations are actually stretched and premiums are too excessive,” said SA analyst Uttam Dey.
During the last three months, the corporate has seen important revisions to its estimates. Its earnings per share estimates have been revised upwards 24 instances vs. 4 downward revisions, whereas its income estimates have seen 29 upward revisions, in comparison with two downgrades.
Seeking Alpha analysts at large think about SNOW a Maintain. This compares with average Wall Street rating of Purchase and SA Quant rating of Maintain.