Snowflake Inc ($SNOW) Stock Forecast: Up 5.0% Today

What is Snowflake Inc?

SNOW, or Snowflake Inc., is a cloud-based data warehousing company listed on the NYSE. The stock had a strong bullish movement today.

Why is Snowflake Inc going up?

SNOW stock is up 5.0% on Aug 29, 2024 16:18

• Snowflake's strong quarter, surpassing expectations, likely increased investor confidence.
• Despite challenges, positive results and outlook may have overshadowed concerns.
• Speculation on Snowflake's potential rebound to $190 might have attracted more investors.
• Contrasting tech stock performances like CrowdStrike and American Woodmark may have highlighted Snowflake's positive momentum.

SNOW Price Chart

SNOW News

Jim Cramer On Snowflake Inc. (SNOW): ‘Strong Quarter With Results That Exceeded Expectations’

We recently published a list of 10 Stocks Jim Cramer is Talking About. In this article, we are going to take a look at where Snowflake Inc. (NYSE:SNOW) stands against other stocks Jim Cramer is talking about. On a recent episode of Mad Money, Jim Cramer suggests that perhaps we are misjudging the retail sector. […]

https://www.insidermonkey.com/blog/jim-cramer-on-snowflake-inc-snow-strong-quarter-with-results-that-exceeded-expectations-1340835/

These 2 Tech Stocks Could Be in the Middle of Proving Warren Buffett Right

CrowdStrike and Snowflake have seen their reputations suffer.

https://www.fool.com/investing/2024/08/28/these-2-tech-stocks-could-be-in-the-middle-of-prov/?source=iedfolrf0000001

American Woodmark Reports Downbeat Results, Joins Snowflake And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session - American Woodmark ( NASDAQ:AMWD )

U.S. stock futures were slightly lower this morning, with the Dow futures falling around 0.1% on Tuesday. Shares of American Woodmark Corporation AMWD fell sharply in today's pre-market trading after reporting downbeat quarterly results.

https://www.benzinga.com/trading-ideas/movers/24/08/40573749/american-woodmark-reports-downbeat-results-joins-snowflake-and-other-big-stocks-moving-lower

Jim Cramer Says Snowflake Inc (NYSE:SNOW) is Facing ‘Some Difficulties’

We recently published a list of Jim Cramer’s Latest Lightning Round: Top 10 Stocks. Since Snowflake Inc (NYSE:SNOW) ranks 5th on the list, it deserves a deeper look. Jim Cramer in a latest program on CNBC said that the market had already priced in the positive comments from the Fed Chair Jerome Powell at the Jackson Hole […]

https://www.insidermonkey.com/blog/jim-cramer-says-snowflake-inc-nysesnow-is-facing-some-difficulties-1339775/

Can Snowflake Stock Rebound to $190? Here’s What Canaccord Expects

The stock market is not easy to please at times. Stocks often get punished for not delivering on all fronts when reporting earnings, even if the pr…

https://www.tipranks.com/news/can-snowflake-stock-rebound-to-190-heres-what-canaccord-expects

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Snowflake Inc Price History

28.07.2024 - SNOW Stock was down 5.2%

• Snowflake's reputation has taken a hit as it is among the top losers in the market.
• Downbeat quarterly results from American Woodmark and overall negative sentiment in the tech sector have contributed to Snowflake's bearish movement.
• Comments on Snowflake facing difficulties and expectations of a rebound to $190 show the conflicting opinions and uncertainty surrounding the stock.
• The overall market sentiment, with U.S. stock futures slightly lower and the tech sector facing challenges, has added pressure on Snowflake's stock price.

22.07.2024 - SNOW Stock was down 11.4%

• Snowflake stock fell 8% after Q2 earnings, missing revenue estimates and reporting lower-than-expected EPS.
• Analysts lowered price targets on the stock following the earnings report, contributing to the bearish movement.
• The CEO downplaying a cyberattack might have added to investor concerns, impacting the stock negatively.
• Despite the bearish movement, KeyBanc maintains a positive outlook on Snowflake, suggesting potential recovery in the future.

22.07.2024 - SNOW Stock was down 9.2%

• Despite positive outlooks from KeyBanc and Evercore ISI, SNOW experienced a bearish movement today.
• The stock slid despite lifting its annual guidance and reporting solid Q2 results, indicating a possible disconnect between performance and market expectations.
• Urban Outfitters and other big stocks moving lower in the pre-market session may have contributed to the overall bearish sentiment in the market, impacting SNOW's movement.
• The slight gain in S&P 500 futures suggests a mixed market sentiment, with specific company news potentially overshadowing broader market trends for SNOW.

22.07.2024 - SNOW Stock was down 11.6%

• Robust growth and an increased full-year outlook were reported by Snowflake, indicating positive long-term prospects.
• Despite surpassing revenue and adjusted operating income expectations, Snowflake's stock fell by 12.4% due to missing analysts' billings expectations by a significant margin, raising concerns about future revenue trends.
• The fiscal second-quarter 2025 earnings report showed a deceleration in product revenue growth, further impacting the negative market sentiment towards Snowflake.
• Snowflake's disappointing earnings report prompted a 13% decline in its shares, underscoring the importance of meeting market expectations for sustainable stock performance.

22.07.2024 - SNOW Stock was down 12.1%

• Snowflake shares saw a 13% decline due to decelerating product revenue growth in the company's fiscal second-quarter earnings, disappointing investors.
• The market sentiment towards Snowflake was further influenced by analysts reducing their price targets on the stock post-earnings, intensifying the selling pressure.
• Uncertainty in the market, coupled with investors awaiting comments from Fed officials, resulted in a negative market response towards Snowflake as part of a broader tech stock sell-off.
• The CEO's response to a cyberattack on the company and the prevailing bearish market trend led to a 10% drop in Snowflake's stock, amidst increasing interest in cryptocurrencies like Bitcoin, Ethereum, and Dogecoin following hints of a Fed rate cut.

29.07.2024 - SNOW Stock was up 5.0%

• Snowflake's strong quarter, surpassing expectations, likely increased investor confidence.
• Despite challenges, positive results and outlook may have overshadowed concerns.
• Speculation on Snowflake's potential rebound to $190 might have attracted more investors.
• Contrasting tech stock performances like CrowdStrike and American Woodmark may have highlighted Snowflake's positive momentum.

12.06.2024 - SNOW Stock was down 5.1%

• SNOW stock experienced a bearish movement likely due to hackers stealing call and text records of "nearly all" of AT&T's cellular customers, which also included data thefts targeting Snowflake's customers.
• The cybersecurity breach at AT&T and Snowflake raised concerns about data privacy and security, leading to a loss of investor confidence in both companies.
• The negative impact of the hacking incident on both AT&T and Snowflake stocks contributed to the overall bearish trend in the market for SNOW today.

11.06.2024 - SNOW Stock was up 5.3%

• Snowflake's bullish movement today can be attributed to the positive sentiment surrounding the company, fueled by various factors:
• Analysts are optimistic about Snowflake's future performance, with one firm even listing it as a high-conviction pick, indicating strong growth potential.
• The integration of Snowflake's AI Data Cloud by Shiprocket to empower Indian merchants showcases the company's expanding reach and relevance in the e-commerce sector, leading to increased investor confidence.
• The broader trend of cloud-computing stocks gaining traction in the market is also benefiting Snowflake, as investors seek exposure to this high-growth sector.
• The overall bullish sentiment towards Snowflake reflects a growing interest in innovative tech companies and cloud-based solutions, driving the stock's upward momentum.

24.06.2024 - SNOW Stock was down 5.0%

• The bearish movement in Snowflake's stock could be attributed to negative actions taken by financial giants, as indicated by the options trading trends.
• Despite the overall bearish sentiment, Snowflake managed to rise slightly during a market dip, exhibiting resilience.
• Snowflake's announcement of a partnership with Meta to host Llama 3.1 collection of multilingual open source large language models in Snowflake Cortex AI might have initially boosted the stock, but the prevailing bearish market sentiment overshadowed this development.
• The growth potential in the Active Data Warehousing market could serve as a positive long-term indicator for Snowflake, yet short-term bearish trading sentiments appeared to dictate the stock movement today.

24.06.2024 - SNOW Stock was down 5.0%

• The bearish movement in SNOW stock today could be attributed to the mixed sentiment from options trading trends, with a slightly higher percentage of traders showing bearish tendencies.
• Despite the overall market dip, SNOW managed to rise slightly, possibly due to the positive news of partnering with Meta to host Llama 3.1 collection in Snowflake Cortex AI.
• References to bargain stocks with potential for high returns might not have directly impacted SNOW's movement today, as the focus was more on undervalued assets rather than specific companies like Snowflake.
• The forecast of explosive growth in the active data warehousing market could have a positive long-term effect on SNOW, but it might not have influenced today's bearish movement significantly.

07.07.2024 - SNOW Stock was up 5.1%

• Despite SNOW slipping 39% year-to-date, the stock experienced a bullish movement today, closing at $114.82.
• The overall technology sector faced volatility due to a surprising hawkish tilt by the Bank of Japan, causing Japanese stock markets to plummet.
• SNOW's near-term prospects were negatively impacted by stiff competition and growing GPU-related costs, but the recent bullish movement could indicate investor optimism in the company's expanding portfolio and strong partner base.
• Despite the market turbulence and negative sentiment towards technology stocks in general, SNOW's positive movement today may suggest that investors are still confident in the company's position within the cloud computing industry.

01.07.2024 - SNOW Stock was down 5.0%

• The machine learning industry is poised for significant growth, with forecasts predicting a substantial increase in market valuation by 2029. However, this positive outlook for tech sectors did not seem to translate into bullish sentiment for SNOW today.
• The options market sentiment towards Snowflake was notably bearish, with a significant percentage of investors opening trades with pessimistic expectations.
• Legal investigations into potential breaches of fiduciary duties by Snowflake's leadership could have contributed to the negative market sentiment surrounding the stock.
• Despite a slight positive move in the latest trading session, the overall market movement for SNOW today was predominantly bearish, possibly influenced by the combination of the aforementioned factors.