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

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.

snowflake diyince aklıma gelen

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

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

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.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

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? ❄️❄️❄️
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

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
La source: CNBC - 🏆 12. / 72 Lire la suite »