Snowflake is 'a growth company with rapidly slowing growth,' analyst says as stock melts

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Snowflake Inc.'s slashed revenue forecast shows there isn't much leeway for pricey software stocks.

Snowflake Inc.’s slashed revenue forecast shows there isn’t much leeway these days for pricey software stocks.

Shares of Snowflake SNOW were tumbling 13% in morning trading Thursday after the data-warehousing company said that it expects 40% revenue growth this fiscal year, whereas the company was previously targeting 47% growth for the period. Moerdler reiterated a market-perform rating on Snowflake shares while reducing his price target to $157 from $161.

“Despite the mixed results, with guidance that is better than peers but lower than expected, Snowflake remains in rarified territory in the current environment as it is one of the remaining at-scale businesses growing in the ~40% range, showing overall less [deceleration] than other consumption models such as AWS, Azure, and Datadog, and guiding to a growth+margin Rule-of-65,” wrote JPMorgan’s Mark Murphy.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

snowflake diyince aklıma gelen

Snowflake is the GOP's new name for its party.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Snowflake stock falls after earnings as forecast underwhelmsThe data-software company beat expectations with its latest quarterly results but forecast lower revenue for the full year than analysts had been anticipating.
Source: MarketWatch - 🏆 3. / 97 Read more »

Snowflake earnings: What to expectSnowflake is well positioned to beat expectations on product revenue for the latest quarter, according to some analysts, but all eyes will be on its outlook. Flurries? ❄️❄️❄️
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves after hours: Silvergate Capital, Salesforce, Snowflake, Okta and moreStocks making the biggest moves after hours: Salesforce, Snowflake, Okta and more Always remember that when a 🇺🇸 company beats it goes up 16% like $crm. When a commie 🇨🇳 company like $baba beats it drops 10%. These alibaba has a negative TEN YEAR return. Avoid dictator Xii and his garbage. $bidu $jd $nio
Source: CNBC - 🏆 12. / 72 Read more »