Key Takeaways SNOW beat Q3 earnings and revenue estimates, but its shares sank more than 8% after-hours. SNOW posted 29% product revenue growth and saw customer count rise 20% to 12,621 in Q3. SNOW expanded its operating margin to 10.8% and guided for 27% Q4 product revenue growth. Snowflake (SNOW) reported third-quarter fiscal 2026 non-GAAP earnings of 35 cents per share, beating the Zacks Consensus Estimate by 12.90%. The company reported earnings of 20 cents per share in the year-ago quarter.Revenues of ...

Core Insights - Snowflake Inc reported strong third-quarter results with revenue of $1.21 billion, surpassing analyst expectations of $1.18 billion, and adjusted earnings of 35 cents per share, exceeding estimates of 31 cents per share [1][2] Financial Performance - The company expects fourth-quarter product revenue to be between $1.195 billion and $1.20 billion, reflecting a year-over-year increase of approximately 27% [3] - Adjusted operating margin is projected to be 7% in the fourth quarter, a decrease from 11% in the third quarter, which has negatively impacted share prices [3] Market Reaction - Following the earnings announcement, Snowflake shares fell by 11.2%, trading at $235.20 [3] Analyst Ratings and Price Targets - Keybanc analyst Eric Heath maintained an Overweight rating and raised the price target from $275 to $285 [5] - Baird analyst William Power also maintained an Outperform rating, increasing the price target from $260 to $270 [5] - Other analysts, including those from Cantor Fitzgerald, Morgan Stanley, Wells Fargo, Scotiabank, Canaccord Genuity, and Stifel, have similarly maintained positive ratings while raising their price targets, with the highest target reaching $299 [5]

Summary of Snowflake's Conference Call Company Overview - **Company**: Snowflake - **Industry**: Data Cloud and Analytics Key Points and Arguments 1. Product Development and Market Strategy - Snowflake's main objectives for 2025 include accelerated product velocity and global sales team effectiveness [3][4] - The company has successfully developed products like Snowflake Intelligence, which enhances user experience and value creation [4][5] - Acquisitions, such as DataVolo, have contributed positively to Snowflake's product offerings [4] 2. AI and Data Utilization - The era of AI is seen as the "industrialization of thought," where language models can execute tasks traditionally done by humans [13] - High-quality data is essential for AI products to function effectively, and Snowflake positions itself as an AI-ready platform [15][16] - The demand for Snowflake's services is driven by the need for accessible and transformable data [16] 3. Migration Trends - Migration activity to Snowflake has been strong, particularly in sectors like financial services and telecommunications [26][27] - Quarterly results may show variability due to the timing of customer migrations, which are not aligned with Snowflake's reporting periods [27] - The company reported a 29% year-over-year revenue growth, with a slight impact from a hyperscaler outage [28] 4. Performance Improvements - Snowflake is focused on enhancing query performance through both hardware advancements and software improvements [36][38] - The introduction of a new generation of warehouses aims to deliver performance improvements without significant price increases [38] 5. AI Integration in Products - Snowflake is developing AI-driven tools, such as Cortex Code, to optimize user experience and streamline complex tasks [40][41] - AI is expected to accelerate migration processes, making them faster and safer [41][43] 6. Competitive Landscape - The rise of SaaS companies venturing into data analytics is noted, with Snowflake maintaining its competitive edge through partnerships and specialized offerings [48] - Snowflake does not view the market as a zero-sum game, believing in the potential for mutual value creation through collaborations [48] 7. Future Developments - Snowflake is working on interactive analytics to meet the needs of customers requiring low-latency data access [50][51] - The company is exploring partnerships with application development platforms to enhance user experience while maintaining data governance [60][61] Additional Important Insights - The importance of incremental transformation in data management is emphasized, advising against mass changes that could introduce risks [21][22] - Snowflake's structural advantages in cloud computing are expected to compound over time, reinforcing its market position [23] - The company is committed to responsible growth while leveraging AI to improve operational efficiency [55]

Core Insights - Snowflake Inc's shares have dropped 10% to $238.57 following disappointing Q4 operating margin guidance, overshadowing a strong Q3 earnings and revenue report and a $200 million AI deal with Anthropic [1] Group 1: Stock Performance - The stock is trading near late-November lows after a previous attempt to recover from a pullback below $230 on November 21, following a three-year high of $280.67 on November 3 [3] - Despite the recent decline, Snowflake's stock remains 54% higher year to date [3] Group 2: Analyst Reactions - Eight analysts have raised their price targets for Snowflake, with Wells Fargo and Scotiabank setting targets at $290 [2] - A mix of recommendations exists among covering brokerages, with six firms maintaining a "hold" or "strong sell" rating [2] Group 3: Volatility Metrics - Snowflake's Schaeffer's Volatility Scorecard (SVS) is at 79 out of 100, indicating that the stock has experienced higher volatility than what its options pricing suggests [4]

Core Insights - Snowflake's stock experienced a significant rise of 68% for the year until December 3, but fell 10% following the release of its third-quarter earnings report [2][3] - Despite beating revenue and earnings expectations, the stock decline was attributed to product revenue guidance that was only slightly above consensus estimates, leading to investor disappointment [3][7] Financial Performance - Snowflake reported third-quarter revenue of $1.21 billion, a 29% increase year-over-year, exceeding estimates by $30 million [8] - Adjusted earnings per share (EPS) were 35 cents, surpassing expectations by four cents, and adjusted gross margin was 73%, one percentage point above consensus [8] - Free cash flow rose 9% to $113.6 million, remaining performance obligations increased by 37% to $7.88 billion, and the net retention rate was 125% [9] Product Revenue Guidance - For the current quarter, Snowflake projected product revenue guidance with a midpoint of $4.425 billion, only $12 million above estimates, which contributed to the stock's decline [10] - The company’s product revenue growth rate of 29% was slower than the previous quarter's 32%, which may have led to further investor concerns [18] AI and Strategic Partnerships - Snowflake achieved a $100 million annual recurring revenue (ARR) in AI a quarter earlier than expected, indicating strong momentum in its AI initiatives [4][11] - The company’s enterprise AI agent, Snowflake Intelligence, has seen the fastest adoption in its history, enhancing how businesses interact with data [5][12] - Snowflake's partnership with Anthropic is expected to generate $200 million over several years, while collaborations with AWS are enhancing its cloud capabilities [13][14] Analyst Perspectives - Analysts noted that Snowflake's stock was seen as undervalued by approximately 20%, with an average price target of $286 from 33 analysts [6][19] - Some analysts expressed optimism about the company's conservative guidance, suggesting steady demand in its core business and growing interest in its AI offerings [19]

人工智能研究实验室Anthropic在争取企业客户方面的步伐丝毫未减。该公司周三宣布，将扩大与云计 算数据公司Snowflake的合作关系，双方签署了一份价值 2 亿美元的多年期人工智能合作协议。根据协 议，Anthropic的大语言模型（LLMs）将接入Snowflake 的平台，进而覆盖Snowflake 庞大的客户群体。 今年 10 月，Anthropic与德勤（Deloitte）签署协议，将其 Claude 聊天机器人接入这家咨询巨头的员工 平台，覆盖德勤超 50 万名员工。同一周，Anthropic还与国际商业机器公司（IBM）达成合作，计划将 其部分大语言模型接入 IBM 的软件产品。 Anthropic在企业市场取得成功并不意外，其模型在企业群体中已获得广泛且持续增长的认可。门洛风 投（Menlo Ventures）今年 7 月的一项调查显示，相比其他人工智能公司的模型，企业更青睐Anthropic 的人工智能产品。 责任编辑：郭明煜 人工智能研究实验室Anthropic在争取企业客户方面的步伐丝毫未减。该公司周三宣布，将扩大与云计 算数据公司Snowflake的合作关系，双方签署了一份价值 2 ...

Core Viewpoint - Snowflake's stock price dropped nearly 10% after the release of its Q3 earnings report, despite a year-to-date increase of over 70% and strong AI business growth, leading most Wall Street firms to maintain positive ratings [1][2]. Group 1: Financial Performance - Snowflake's growth rate slowed from 32% in the previous quarter to 29% this quarter, which is still considered impressive given the company's scale [1]. - The company achieved an annualized AI revenue run-rate of $100 million for its newly launched enterprise AI agent, Snowflake Intelligence, which was realized a quarter earlier than expected [1]. - Product revenue was only 2.7% above the midpoint of guidance, falling short of market expectations for over 3% [2]. Group 2: Analyst Ratings and Price Targets - Citizens maintains an "Outperform" rating with a target price of $325 [1]. - Canaccord Genuity raised its target price from $260 to $270 and reiterated a "Buy" rating, highlighting the $200 million partnership with Anthropic as a key growth driver [2]. - Cantor also holds an "Overweight" rating, increasing its target price from $275 to $278 [2]. - Wedbush reaffirmed its "Outperform" rating and maintained a target price of $270, including Snowflake in the Ives AI 30 list [2]. Group 3: Market Potential - Snowflake's total addressable market (TAM) is projected to expand from $170 billion in 2024 to $355 billion by 2029, indicating significant long-term growth potential [1].

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

美国上周初请失业金人数19.1万人，为三年多来的最低水平，低于预期。路透调查显示，超八成经济学 家预计美联储12月将降息25个基点。美股三大指数集体高开，纳指涨0.31%，标普500指数涨0.23%，道 指涨0.12%。 Meta大涨超5%，公司CEO扎克伯格计划将元宇宙项目支出削减至多30%。 美光科技跌2.1%，公司将在全球内存供应短缺之际退出消费级内存业务。 Snowflake跌9.5%，本季业绩指引疲软，AI工具盈利能力遭质疑。 (格隆汇) 英伟达涨超1%，GB200 NVL72系统可将开源AI模型的性能最高提升10倍。 ...

Anthropic signs $200M deal to bring its LLMs to Snowflake’s customers https://t.co/8M4tixR35J ...