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Tag: Snowflake Inc.

  • Snowflake (SNOW) Shares Jump In Pre-Hour Trading After Earnings Release

    Snowflake (SNOW) Shares Jump In Pre-Hour Trading After Earnings Release

    Snowflake Inc. (NYSE: SNOW) stock price is increasing significantly this morning after its earnings report was released. As of the most recent pre-market check, SNOW shares reached $157.15, up 21.71%.

    Impressive Third Quarter Performance

    With a 29% year-over-year increase in product sales to $900 million, Snowflake produced an exceptional third-quarter result. The business also met its remaining performance requirements, which came to $5.7 billion, a 55% increase over the prior year. The company’s capacity to sustain steady development via its dedication to product coherence and user-friendliness is demonstrated by its strong financial performance.

    Strategic Growth and Expansion of Customers

    Because of the company’s unwavering commitment to improving its data platform, Snowflake is currently the most affordable and user-friendly option available to businesses. Significant growth has been generated by this strategic strategy, which has increased its position in current accounts and drawn in new clients.

    According to the most recent report, Snowflake has 754 Forbes Global 2000 clients and 542 customers that generate over $1 million in trailing 12-month product sales, representing a 25% and 8% increase in year-over-year growth, respectively.

    Acquisition of Datavolo to Strengthen AI Capabilities

    In a move to further enhance its offerings, Snowflake announced the acquisition of Datavolo, a company specializing in accelerating the creation and management of multimodal data pipelines for enterprise AI.

    This acquisition will enable Snowflake to strengthen its position in the data lifecycle’s ‘bronze layer,’ offering data engineering teams a simplified way to integrate systems with Snowflake’s unified platform. The combined capabilities will unlock AI, machine learning, and analytics potential while ensuring scale, performance, and governance within the AI Data Cloud.

    Focus on Public Sector and Open Standards

    Snowflake’s acquisition of Datavolo also aligns with its goal to deepen its footprint in the public sector. The company plans to continue supporting the Apache NiFi project, ensuring full interoperability across various data environments. By doing so, Snowflake aims to enhance its platform’s security and governance, offering users a trusted foundation for AI-driven innovation.

    Snowflake (SNOW) shares jumped in pre-market trading, fueled by strong earnings performance and investor optimism following the latest report.

  • Beat Q4 FY22 but Poor Outlook: Snowflake Inc. (SNOW) Plunges Down Premarket

    Beat Q4 FY22 but Poor Outlook: Snowflake Inc. (SNOW) Plunges Down Premarket

    On March 2, Snowflake Inc. (SNOW) posted its financial results for Q4 fiscal 2022 along with a future outlook. While the company beat its expectations for the Q4 FY22, the weak future outlook disappointed investors. Consequently, the stock took a harsh hit as it plunged deep down in the premarket on Thursday.

    In the previous regular trading session, the stock barely kept in the green with a slight gain of 0.57%. In intraday trading, the stock varied between $250.58 and $268.50. At an active volume of 13.37 million, SNOW closed the session at $264.69 per share. Following the announcement, the stock had plunged down by a huge 22.18% in the premarket, at the last check on Thursday. Hence, at the time of writing, SNOW was trading at a price of $206.30 per share in the premarket.

    The cloud data warehousing software solutions provider, Snowflake Inc. was founded in 2013. With a market capitalization of $80.62 billion, the company has 306.3 million shares outstanding. Currently, SNOW stands at a year-to-date loss of 21.53% while it increased by 6.30%.

    SNOW’s Fiscal 2022 Q4

    The company’s Q4 fiscal 2022 ended on January 31, 2022.

    SNOW had revenue of $383.8 million with an increase of 101% YOY in fiscal Q4 2022.

    Moreover, product revenue increased by 102% YOY to $359.6 million.

    Furthermore, the company reported 5,944 total customers including 184 customers with a trailing 12-month product revenue of more than 1$ million.

    The non-GAAP adjusted free cash flow was $102.1 million in the quarter.

    Future Outlook

    For Q1 fiscal 2023, the company expects product revenue between $383 and $388 million with YOY growth of 79-81%.

    Additionally, for the full-year fiscal 2023, the expected revenue is $1880-$1900 million with 65-67% YOY growth.

    Source: Investopedia

    SNOW’s Intent to Acquire Streamlit

    On Wednesday, the company also announced signing a definitive agreement with Streamlit for its acquisition. Streamlit is a framework built for the simplification and acceleration of data applications creation.

    The acquisition will lead to the companies enabling developers for building apps using tools they prefer with simplified data access and governance.

    Other Developments

    On January 31, SNOW announced maintaining a perfect recommend score in the 2022 Wisdom of Crowds Analytical Data Infrastructure (ADI) Market Study. The company ranked as an Overall Leader in Customer Experience as well as Vendor Credibility. This marked the fifth consecutive year for 100% of the company’s customer participants to say that they would recommend it to other organizations.

  • Snowflake Inc. (SNOW) Stock Taking Giant Leaps in Aftermarket, Here’s the Reason

     Snowflake Inc. (SNOW), a company that provides a cloud-based data platform, has surged 16.24% in aftermarket trading session. As a result, SNOW stock is trading at 361.50 at the time of the writing. The surge could be attributed to the announcement of quarterly results. On Wednesday, SNOW closed the day at $311 after sliding 8.53% during the regular trading session.

    Why SNOW Surging?

    In the late hours of Wednesday, SNOW released the operational results for the third quarter of the fiscal year 2022. The quarter ended on 31st October. The company generated total revenue of $334.4 million during the quarter against $159.6 million during the same quarter of 2020. The total operating expenses for the period were $370.9 million against $262.3 million for the same period of 2020. The net loss suffered by the company during the quarter was $154.8 million (or $0.51 per basic and diluted share) against $168.8 million (or $1.01 per basic and diluted share) for the same quarter of 2020.

    Financial Guidance

    Alongside the operational results, SNOW also released the financial guidance for the full-year fiscal 2022. The company expects to generate product revenue in the range of $1.126 billion to $1.131 billion during the full year. The product gross profit margin is expected to stand at 74% during the fiscal. The operating loss margin could be about 4%, while the margin of adjusted free cash flow could hover around 8% during the quarter.

    Executive Commentary

    Frank Slootman, Chairman and CEO of SNOW, while commenting on the results said that the company saw the momentum accelerate during the third quarter, as its product revenue grew over 110% on a year-over-year basis. He said that the vertical industry focus by the company is an important evolution of its selling motion. He hoped that the company would continue to see broad industry options n the future.

    Future Outlook for SNOW

    The last six months have seen SNOW stock surge by approximately 30%. But during more recent days, the stock has amassed losses. However, as some of the past developments depict, the company is capable of recovering in a quick time. So, potential investors should keep a close eye on the fluctuations of SNOW stock.  

  • What Software Application Sector can offer?

    What Software Application Sector can offer?

    In the stock market this year, software stocks show strong development. The software has ‎become a ‎fundamental part of how many things function, so logically, it has become a ‎fundamental part of how a ‎lot of things work. This is why companies have boosted corporate ‎investments in digital acceleration as ‎a result of the coronavirus pandemic. The stock ‎market is seeing a record year for many of the top ‎software stocks. Enterprise software-as-‎a-service (SaaS), cloud computing, and cybersecurity are key ‎areas of interest. All of them ‎improve our way of working in the digital space.

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    ‎ ‎
    There were plenty of headline-grabbing buyouts and massive new funds for the US private ‎equity ‎industry this year. It was a year of a lot of unusual and unprecedented events, as we ‎all know. ‎Following March’s coronavirus outbreak, buyout investors spent the rest of 2020 ‎dealing with the ‎shockwaves.

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    ‎ ‎
    Over the past few years or so, private equity companies have demonstrated an increasing ‎acceptance ‎of the software sector, trailing in industry leaders’ footsteps. That persisted in ‎‎2020, with the ‎percentage of US PE investments hitting an all-time high in the information ‎technology industry. ‎Buyers migrated to all types of tech companies this year, with the ‎public market’s surprising resilience ‎during the pandemic being partly attributed to a surge ‎in tech stocks.
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    Riot Blockchain Inc. (NASDAQ:RIOT) shares were trading up 32.65% at $14.65 at ‎the time of writing on Tuesday after reporting an expected 65% increase in bitcoin mining hash rate ‎capacity resulting from the purchase and future deployment of 15,000 S19 Pro and S19j Pro Antminers ‎from Bitmain Technologies Limited.

    Riot Blockchain Inc. (NASDAQ:RIOT) share price went from a low point around ‎‎$0.51 to briefly over $11.85 in past 52 weeks, though shares have since pulled back to $14.65. RIOT ‎market cap has remained high, hitting $771.50M at the time of writing, giving it price-to-sales ratio of ‎more than 90.

    ‎Ideanomics Inc. (IDEX) last closed at $2.14, in a 52-week range of $0.28 to $4.75. ‎the firm on December 15, 2020 declared its Mobile Energy Global (MEG) division’s sales activities for ‎the month of November.

    ‎Aurora Mobile Limited (JG) stock soar by 50.16% to $4.79 after declaring a ‎partnership with a global leading new energy vehicle manufacturer to deliver an enhanced intelligent ‎driving experience. The most recent rating by Goldman, on March 06, 2019, is at a Neutral.

    Luminar Technologies Inc (NASDAQ:LAZR) Shares headed rising, higher as much ‎as 6.32%. The most recent rating by Deutsche Bank, on December 18, 2020, is at a Buy.

    ‎Uber Technologies Inc. (NYSE:UBER) rose 3.82% after gaining more than $1.98 ‎on Tuesday. The company on December 9, 2020 revealed the pricing of $1.0 billion convertible senior ‎notes offering.

    ‎Cloudera Inc. (CLDR) last closed at $14.64, in a 52-week range of $4.76 to $14.20. ‎The firm reported on December 4, 2020 that total revenue for the third quarter was $217.9 million, an ‎increase of 10% as compared to the third quarter of fiscal 2020. Analysts have a consensus price target ‎of $14.50.

    ‎Slack Technologies Inc. (WORK) stock soar by 0.73% to $42.88. On December 2, ‎‎2020, the company released strong third quarter fiscal year 2021 results. The most recent rating by ‎Morgan Stanley, on December 09, 2020, is at an Equal-weight.

    ‎salesforce.com inc. (NYSE:CRM) Shares headed rising, higher as much as 2.08%. ‎The company declared a partnership with IBM to help organizations and individuals verify vaccine and ‎health status The most recent rating by BofA Securities, on December 16, 2020, is at a Buy.

    ‎ZoomInfo Technologies Inc. (NASDAQ:ZI) rose 5.23% after gaining more than ‎‎$2.31 on Tuesday after revealing that it has won three more Comparably Awards for company culture ‎excellence in 2020.

    ‎Phunware Inc. (PHUN) last closed at $1.01, in a 52-week range of $0.54 to $3.00 ‎following a new release of its mobile application software, Healthy Spaces, on Google Play for ‎Android.

    ‎Exela Technologies Inc. (XELA) stock drop by -7.12% to $0.40. The company on ‎December 17, 2020 revealed that it has entered into a 5-year, $145 million term loan facility with ‎Angelo Gordon, a global alternative investment firm. The most recent rating by Morgan Stanley, on ‎January 16, 2019, is at an Equal-weight.

    Fastly Inc. (NYSE:FSLY) Shares headed rising, higher as much as 3.52%. The most ‎recent rating by Credit Suisse, on November 25, 2020, is at a Neutral.

    ‎RealPage Inc. (NASDAQ:RP) rose 0.23% after gaining more than $0.2 on Tuesday ‎after announcing that it has entered into a definitive agreement to be acquired by Thoma Bravo

    ‎Snowflake Inc. (SNOW) last closed at $341.16, in a 52-week range of $208.55 to ‎‎$429.00. Analysts have a consensus price target of $302.57.

    Borqs Technologies Inc. (BRQS) stock soar by 1.90% to $1.07. On December 2, ‎‎2020, the firm reported that the it has signed the official agreement for cooperation with the Huzhou ‎South Taihu New Area for a 5G Industrial Park Project.

  • 17 Software Application Stocks You Can’t Ignore In 2020

    17 Software Application Stocks You Can’t Ignore In 2020

    The Software Application industry is heading towards an era of new growth as the demand for software applications is increasing. In the current period, new technologies are emerging which in turn completely changing how companies interact with, develop, and use the software.  Emerging markets, new products, complex business models, and increasing demands stimulated the growth of this industry.

    The companies in this industry are involved in the development of new application software that enhanced flexibility and reduces risks.  This industry has a huge marketplace and has many profitable opportunities. 2020 taught us that this industry is very important and it will continue to rise in the future. The industry helped people to interact and communicate with one another in the current period of a pandemic.

    Check out the top 17 leading companies in the software Application Industry that need your attention:

    Marin Software Incorporated (NASDAQ: MRIN)

    Marin Software Incorporated (NASDAQ: MRIN) shares were trading up 62.74% at $3.45 at the time of writing on Friday. Marin Software Incorporated (NASDAQ: MRIN) share price went from a low point around $0.77 to briefly over $5.70 in the past 52 weeks, though shares have since pulled back to $3.45. MRIN market cap has remained high, hitting $14.80M at the time of writing, giving it a price-to-sales ratio of more than 0.

    Marin Software Incorporated (MRIN) has earlier revealed that it is scheduled to report its financial results for the quarter ended September 30, 2020, on November 5 after the market close. If we look at the recent analyst rating MRIN, Stifel downgraded coverage on MRIN shares with a Hold rating and a $2.00 price target, which implies room for -1.45% downside momentum this year.

    Fastly Inc. (NYSE: FSLY)

    Fastly Inc. (NYSE: FSLY) stock drop by -3.61% to $76.35 after FSLY Final Deadline Tomorrow: Rosen, A Globally Recognized Firm, Reminds Fastly, Inc. Investors of Important October 26 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact the Firm – FSLY. The most recent rating by Piper Sandler, on October 23, 2020, is at an Underweight.

    Zedge Inc. (AMEX: ZDGE)

    Zedge Inc. (AMEX: ZDGE) last closed at $2.54, in a 52-week range of $0.66 to $2.10. Analysts have a consensus price target of $3.00. Zedge Inc. (ZDGE) has earlier revealed the fiscal fourth quarter and full fiscal-year results of 2020 of the quarter ended July 31, 2020. It has reported an increase in revenue to $2.7 million. Its paid subscription revenue rose 378% to $0.6 million.

    Uber Technologies Inc. (NYSE: UBER)

    Uber Technologies Inc. (NYSE: UBER) shares headed rising, higher as much as 0.14%. The most recent rating by Daiwa Securities, on August 21, 2020, is at an Outperform. Uber Technologies Inc. (UBER) has earlier disclosed that it will announce its third-quarter 2020 financial results on November 5, 2020.

    Lyft Inc. (NASDAQ: LYFT)

    Lyft Inc. (NASDAQ: LYFT) rose 1.72% after gaining more than $0.44 on Friday. Lyft Inc. (LYFT) earlier announced that it will share its third-quarter 2020 financial results on November 10, 2020. It has moved up 78.69% from its 52-weeks low and moved down -52.26% from its 52-weeks high.  Looking at its liquidity, it has a current ratio of 1.60. Lyft Inc. has a total market capitalization of $7.98 billion at the time of writing.

    Slack Technologies Inc. (NYSE: WORK)

    Slack Technologies Inc. (NYSE: WORK) last closed at $28.76, in a 52-week range of $15.10 to $40.07. Analysts have a consensus price target of $30.62. Slack Technologies Inc. (WORK) Chief Executive Officer and Co-Founder Stewart Butterfield, and Vice President of Product Ilan Frank has earlier participated in a fireside chat hosted by Alex Zukin, Managing Director, Software Equity Research at RBC Capital Markets on Tuesday, October 13, 2020.

    Ideanomics Inc. (NASDAQ: IDEX)

    Ideanomics Inc. (NASDAQ: IDEX) shares headed falling, lower as much as -2.39%. Ideanomics Inc. (IDEX) has earlier announced the acquisition of California-based Solectrac, Inc. for the consideration of $1.3 million. Solectrac develops, assembles, and distributes 100% battery-powered electric tractors—an alternative to diesel tractors for agriculture and utility operations.

    Snowflake Inc. (NYSE: SNOW)

    Snowflake Inc. (NYSE: SNOW) fall -10.78% after losing more than -$32.04 on Friday. Snowflake Inc. (SNOW), a software maker whose stock debuted with the biggest U.S. initial public offering in 2020, signed a deal worth millions of dollars with Goldman Sachs Group Inc. earlier this year.

    Weidai Ltd. (NYSE: WEI)

    Weidai Ltd. (NYSE: WEI) last closed at $1.90, in a 52-week range of $0.73 to $6.50. Analysts have a consensus price target of $2.16. Weidai Ltd. (WEI) has earlier issued a statement regarding the unusual trading activity related to the American depositary shares of the Company on the New York Stock Exchange.

    Citrix Systems Inc. (CTXS)

    Citrix Systems Inc. (CTXS) stock drop by -3.11% to $122.71. The most recent rating by Morgan Stanley, on October 23, 2020, is at an Equal-weight. Citrix Systems Inc. (CTXS) and Upwork have earlier announced that they have decided to expand their collaboration to empower flexible work models and provide fast, easy, and secure access to untapped pools of specialized talent to fuel business innovation and growth.

    Digital Turbine Inc. (NASDAQ: APPS)

    Digital Turbine Inc. (NASDAQ: APPS) shares headed rising, higher as much as 3.01%. The most recent rating by Ladenburg Thalmann, on August 06, 2020, is at a Buy. Digital Turbine Inc. (APPS) has announced earlier that it will host the conference call and webcast to discuss its fiscal 2021 second-quarter financial results and operating progress on Thursday, October 29.

    Unity Software Inc. (NYSE: U)

    Unity Software Inc. (NYSE: U) fall -3.65% after losing more than -$3.68 on Friday. Unity Software Inc. (U) has earlier announced its partnership with three groups including Pledge 1%, a global movement which urged companies to donate 1% of their profit to local communities,  Rare Beauty, the cosmetic company founded by Selena Gomez, and Playing for the Planet,  an alliance of private video game sector member organizations who have committed to harnessing the power of their platforms to take action on the climate crisis

    salesforce.com inc. (NYSE: CRM)

    salesforce.com inc. (NYSE: CRM) last closed at $250.52, in a 52-week range of $115.29 to $284.50. Analysts have a consensus price target of $275.89. salesforce.com inc. (CRM) disclosed a significant expansion of Work.com to help companies get back to growth and thrive in the new normal.

    9F Inc. (NASDAQ: JFU)

    9F Inc. (NASDAQ: JFU) stock drop by -4.14% to $1.39. National law firm Barr Law Group has earlier announced that it is investigating Dividend and Income Fund, 9F Inc., and Stratus Properties Inc. It has moved up 93.06% from its 52-weeks low and moved down -89.93% from its 52-weeks high.  JFU market cap has remained high, hitting $283.00 million at the time of writing.

    Datadog Inc. (NASDAQ: DDOG)

    Datadog Inc. (NASDAQ: DDOG) shares headed rising, higher as much as 3.17%. The most recent rating by Berenberg, on October 07, 2020, is at a Hold. Datadog Inc. (DDOG) that the Gartner Peer Insights ‘Voice of the Customer’: Application Performance Monitoring report named Datadog an October 2020 Customers’ Choice.

    Riot Blockchain Inc. (NASDAQ: RIOT)

    Riot Blockchain Inc. (NASDAQ: RIOT) stock drop by -3.58% to $3.91. Riot Blockchain Inc. (RIOT) share price went from a low point around $0.51 to briefly over $4.58 in the past 52 weeks. It has moved up 665.17% from its 52-weeks low and moved down -14.63% from its 52-weeks high.  RIOT market cap has remained high, hitting $198.39 million at the time of writing.

    Cloudera Inc. (NYSE: CLDR)

    Cloudera Inc. (NYSE: CLDR) rose 1.17% after gaining more than $0.12 on Friday. Cloudera Inc. (CLDR) share price went from a low point around $4.76 to briefly over $14.20 in the past 52 weeks. It has moved up 117.65% from its 52-weeks low and moved down -27.03% from its 52-weeks high.  CLDR market cap has remained high, hitting $3.17 Billion at the time of writing.