Snowflake Inc ($SNOW) Stock Forecast: Up 32.6% Today

What is Snowflake Inc?

Snowflake Inc. (SNOW) is a cloud-based data warehousing company that provides data storage, processing, and analytics services. The overall market sentiment for SNOW today was bullish.

Why is Snowflake Inc going up?

SNOW stock is up 32.6% on Nov 21, 2024 20:38

• Snowflake's Q3 earnings beat estimates and revenues rose year-over-year, indicating strong financial performance and growth prospects.
• The stock surged higher after reporting better-than-expected financial results and raising guidance, leading to increased investor confidence and analyst price target upgrades.
• The positive earnings surprises and revenue beats for the quarter ended October 2024 suggest that Snowflake's business is performing well and may continue to attract investor interest.
• The acquisition of an AI company and a partnership announcement further boosted Snowflake's market sentiment, signaling strategic moves for future growth and innovation.

SNOW Price Chart

SNOW Technical Analysis

SNOW News

Snowflake Q3 Earnings Beat Estimates, Revenues Rise Y/Y, Stock Up

SNOW's third-quarter fiscal 2025 results reflect continuing growth in product revenues, driven by customer-base expansion.

https://www.zacks.com/stock/news/2373507/snowflake-q3-earnings-beat-estimates-revenues-rise-yy-stock-up

Snowflake Stock Is Blazing Higher Thursday: What's Going On? - Snowflake ( NYSE:SNOW )

Snowflake Inc SNOW shares are ripping higher Thursday after the company reported better-than-expected financial results for the third quarter and raised guidance. Several analysts raised price targets following the print. Here's what you need to know.

https://www.benzinga.com/24/11/42117057/snowflake-stock-is-blazing-higher-thursday-whats-going-on

Nvidia, Deere And 3 Stocks To Watch Heading Into Thursday - Deere ( NYSE:DE ) , BJ's Wholesale Club ( NYSE:BJ )

With U.S. stock futures trading mixed this morning on Thursday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Deere & Company DE to report quarterly earnings at $3.87 per share on revenue of $9.34 billion before the opening bell, according to data from ...

https://www.benzinga.com/news/earnings/24/11/42103475/nvidia-deere-and-3-stocks-to-watch-heading-into-thursday

Snowflake Inc. ( SNOW ) Tops Q3 Earnings and Revenue Estimates

Snowflake (SNOW) delivered earnings and revenue surprises of 33.33% and 4.82%, respectively, for the quarter ended October 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2373033/snowflake-inc-snow-tops-q3-earnings-and-revenue-estimates

Snowflake Q3 Earnings: Revenue Beat, EPS Beat, Guidance Raise, AI Acquisition, Anthropic Partnership And More - Snowflake ( NYSE:SNOW )

Snowflake Inc SNOW reported third-quarter financial results after the market close on Wednesday. Here's a rundown of the report. Q3 Earnings: Snowflake reported third-quarter revenue of $942.09 million, beating the consensus estimate of $896.99 million.

https://www.benzinga.com/news/earnings/24/11/42099986/snowflake-q3-earnings-revenue-beat-eps-beat-guidance-raise-ai-acquisition-anthropic-partnership-and

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Snowflake Inc Price History

15.10.2024 - SNOW Stock was down 5.0%

• An investigation into potential violations of laws by certain officers of Snowflake, along with other companies, may have raised concerns among investors, leading to a bearish sentiment.
• Bearish market sentiment on Snowflake options trading, with a higher percentage of traders showing bearish tendencies, could have contributed to the downward movement in the stock price.
• Anticipation of a decline in Snowflake's Q3 earnings, as indicated by analysts, might have further dampened investor confidence and resulted in the bearish movement.
• A data breach incident involving AT&T and Snowflake, where hackers gained unauthorized access to AT&T's data systems hosted on Snowflake's platform, could have added to the negative sentiment surrounding the company, impacting its stock performance negatively.

15.10.2024 - SNOW Stock was down 5.2%

• An inquiry into potential legal violations by certain officers of Snowflake Inc. may have influenced investor sentiment, resulting in a negative outlook.
• Analysis of options trading revealed a majority of traders expressing bearish sentiments, potentially impacting Snowflake's stock decline.
• Speculation regarding a decrease in Snowflake's Q3 earnings, highlighted in the earnings preview, likely exacerbated the stock's downward trajectory.
• The connection of Snowflake to the AT&T data breach, involving unauthorized access to AT&T's systems on Snowflake's platform, possibly contributed to decreased investor trust and the stock's downward trend.

25.08.2024 - SNOW Stock was up 5.0%

• Snowflake's decision to raise $2 billion through convertible notes is viewed as a strategic move to enhance its financial position and support future growth prospects.
• Industry analysts interpret Snowflake's debt offering as a display of financial robustness, potentially bolstering investor confidence in the company's long-term performance.
• The uptrend in Snowflake's stock price is likely influenced by the market's favorable response to the company's proactive steps in capital raising and financial stability.
• Following a decline in the previous trading session following the private placement announcement, Snowflake has shown resilience by rebounding strongly today amidst short-term market fluctuations.

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.

13.10.2024 - SNOW Stock was up 5.1%

• Snowflake Inc. (SNOW) experienced a bullish movement, with a 1.59% increase in its stock price.
• The positive market movement could be attributed to investor optimism following the company's resilience amidst a falling market.
• Despite the overall market decline, Snowflake's performance could be seen as a safe haven for investors seeking growth opportunities in the tech sector.
• The information about Intuitive Surgical and GlobalFoundries are not directly related to Snowflake's market movement today.

13.10.2024 - SNOW Stock was up 6.9%

• Despite bearish sentiment in the options market, Snowflake's stock saw a strong bullish movement, closing the day with a 1.59% increase.
• The anticipated decline in Q3 earnings expectations did not seem to dissuade investors, suggesting potential resilience in the stock.
• The data breach incident involving AT&T and Snowflake did not notably impact Snowflake's market performance, indicating a focus on the company's long-term outlook by investors.
• Snowflake's positive movement in a declining market may be due to investors' optimism regarding the company's growth prospects and innovative solutions in the cloud data sector.

09.09.2024 - SNOW Stock was up 5.2%

• Despite a bearish stance on Snowflake in the options market, the stock experienced significant bullish activity, revealing a divergence between options activity and stock performance.
• The increase in options activity could indicate some investors anticipated a decline in Snowflake's stock price, but the actual market movement contradicted this expectation, potentially surprising these investors.
• The discrepancy between options activity and stock performance might be linked to favorable news, earnings reports, or market sentiment that benefited Snowflake, resulting in a notable rise in its stock price.

04.09.2024 - SNOW Stock was up 5.1%

• Despite indications of bearish options activity, which showed a larger number of traders with bearish sentiments, the stock still displayed a robust bullish movement.
• The differing directions of options activity and actual stock performance suggest that external market factors, like positive updates or general market sentiment, may have played a more significant role in driving the stock price upwards.
• Investors possibly prioritize Snowflake's long-term growth potential and market position over short-term options trading strategies.
• The bullish movement could also be influenced by broader market patterns or specific positive developments within the company that overshadowed the bearish options activity.

09.09.2024 - SNOW Stock was up 5.2%

• Despite differing viewpoints on options activity, the overall upward movement of Snowflake's stock suggests a favorable outlook among investors.
• The spike in options activity may suggest a blend of bullish and bearish positions taken by various market participants, leading to heightened volatility in the stock.
• The ambiguity surrounding the nature of these options trades underscores the intricacy of investor sentiment and the difficulties in forecasting market trends solely based on options activity.

21.10.2024 - SNOW Stock was up 33.0%

• Snowflake (SNOW) shares surged after the company reported better-than-expected financial results for the third quarter and raised guidance, leading to increased investor confidence.
• Several analysts raised their price targets for Snowflake following the positive earnings report, indicating a bullish sentiment in the market.
• The strong performance of Snowflake in Q3, with revenue beating estimates and the announcement of an AI acquisition and Anthropic partnership, contributed to the stock's upward momentum.
• The overall positive outlook for Snowflake, fueled by its continued growth and strategic partnerships, likely drove the bullish movement in the stock today.

21.10.2024 - SNOW Stock was up 32.6%

• Snowflake's Q3 earnings beat estimates and revenues rose year-over-year, indicating strong financial performance and growth prospects.
• The stock surged higher after reporting better-than-expected financial results and raising guidance, leading to increased investor confidence and analyst price target upgrades.
• The positive earnings surprises and revenue beats for the quarter ended October 2024 suggest that Snowflake's business is performing well and may continue to attract investor interest.
• The acquisition of an AI company and a partnership announcement further boosted Snowflake's market sentiment, signaling strategic moves for future growth and innovation.

21.10.2024 - SNOW Stock was up 26.5%

• Snowflake Inc. (SNOW) experienced a strong upward movement today following the announcement of its Q3 earnings.
• The company revealed third-quarter revenue of $942.09 million, surpassing the estimated $896.99 million, contributing to the positive market sentiment.
• Earnings and revenue exceeded expectations by 33.33% and 4.82%, respectively, potentially boosting investor confidence in the company's future growth.
• Analyst outlooks and positive charts could have also influenced the market's optimism, counterbalancing the stock's 32% year-to-date decline and driving the favorable market trend.