Key PointsSnowflake had a solid quarter and raised guidance for product sales, supported by demand for AI.A hint of increased collaboration with NVIDIA helped to support the market. Analysts are raising their targets and leading this stock to the high end of its trading range. 5 stocks we like better than SnowflakeSnowflake NYSE: SNOW shares have been floundering for the last two years, but those days are ending. The Q1 F25 results were solid, pointing to persistent growth, and the hint of increased collabo ...

Key TakeawaysCloud storage provider Snowflake missed first-quarter profit expectations and scaled back its full-year operating income guidance when it reported earnings after the bell Wednesday.Snowflake's revenue came in better than analysts expected, however, benefiting from continued strong artificial intelligence (AI) product demand.Snowflake shares rose in early trading Thursday, before reversing course to finish lower. Snowflake (SNOW) shares declined Thursday after the cloud data storage provider mis ...

Despite an AI-driven boom for tech stocks, Snowflake's share price is down 14% over the last year.Snowflake (SNOW -6.10%) stock is losing ground in Thursday's trading. The company's share price was down 5.8% as of 3 p.m. ET, according to data from S&P Global Market Intelligence.After the market closed on Wednesday, Snowflake published the results for the first quarter of its 2025 fiscal year, which ended April 30. While the company's sales came in ahead of the market's expectations, earnings for the period ...

For the quarter ended April 2024, Snowflake Inc. (SNOW) reported revenue of $828.71 million, up 32.9% over the same period last year. EPS came in at $0.14, compared to $0.15 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $786.95 million, representing a surprise of +5.31%. The company delivered an EPS surprise of -17.65%, with the consensus EPS estimate being $0.17.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Software solutions provider Snowflake (SNOW) reported a moderate start to the fiscal year with first-quarter revenue topping expectations. Although the company missed on earnings estimate, upbeat guidance sent shares up by 4.4% in after hours on May 22, 2024.This puts focus on Snowflake-heavy ETFs likeSpear Alpha ETF (SPRX) , TrueShares Technology, AI & Deep Learning ETF (LRNZ) and Global X Cloud Computing ETF (CLOU) . The cloud-based data warehousing company announced that its revenue for the quarter was $ ...

Snowflake is one of the fastest-growing tech stocks out there.In this video, I will cover Snowflake's (SNOW 0.39%) first-quarter earnings, which were better than expected, but the stock remains extremely expensive when you consider the guidance provided.*Stock prices used were from the trading day of May 22, 2024. The video was published on May 22, 2024. ...

Financial Data and Key Metrics - Q1 product revenue grew 34% YoY to $790 million [11][19] - Remaining performance obligations (RPO) totaled $5 billion, with YoY growth accelerating to 46% [11] - Non-GAAP adjusted free cash flow margin was 44% [11][20] - Non-GAAP product gross margin was 76.9%, slightly down YoY due to GPU-related costs for AI initiatives [20] - Non-GAAP operating margin was 4%, benefiting from revenue outperformance [20] - Cash, cash equivalents, and investments totaled $4.5 billion at the end of Q1 [20] - Q2 product revenue guidance is between $805 million and $810 million, with full-year product revenue expected to reach $3.3 billion, representing 24% YoY growth [22] Business Line Data and Key Metrics - AI-related products, including Cortex and Arctic, are gaining traction with over 750 customers using Cortex AI capabilities [13] - Snowpark adoption is strong, with more than 50% of customers using it in Q1, driven by Spark migrations [14] - Collaboration capabilities are a key competitive advantage, with nearly a third of customers sharing data products, up from 24% a year ago [15] - Unstructured data processing is growing, with 40% of customers now processing unstructured data on Snowflake, adding over 1,000 customers in the last six months [16] - Iceberg is in public preview with over 300 customers, expected to drive future revenue opportunities [17][21] Market Data and Key Metrics - Strong growth in February and March, with moderation in April due to seasonal factors like Easter holidays in Europe [19][37] - Smaller accounts outside the Global 2000 contributed significantly to growth, alongside large customers like a median entertainment Global 2000 company and a large retail and consumer goods company [19] - Financial services remain the largest vertical, with notable growth in technology and healthcare sectors [80] Company Strategy and Industry Competition - The company is focused on AI innovation, with Cortex AI and Arctic LLM driving differentiation in the market [9][13] - Snowflake is investing in AI and machine learning, with Cortex AI, Iceberg, Snowpark Container Services, and Hybrid Tables expected to be generally available later this year [13][14] - The company is leveraging its partner ecosystem, including collaborations with Fiserv, EY, Deloitte, and others, to amplify its platform's power and unlock new use cases [17] - Snowflake is positioning itself as the world's best enterprise AI data platform, combining collaboration capabilities and a thriving application platform to drive network effects [18] Management Commentary on Operating Environment and Future Outlook - The CEO emphasized the importance of AI in democratizing access to enterprise data and driving growth across all layers of the platform [9][10] - The company is optimistic about its ability to help customers run their businesses more efficiently, with examples including a large US telco and a global financial services customer [11] - Management highlighted the stable optimization environment, with seven of the top 10 customers growing quarter-over-quarter [20] - The company is investing in AI-related initiatives, including the acquisition of TruEra, to unlock additional revenue opportunities in the future [22][30] Other Important Information - The company repurchased 3 million shares at an average price of $173.14, using $516 million in Q1, with $892 million remaining under the $2 billion authorization [20] - Snowflake will host its Investor Day on June 4 in San Francisco, coinciding with the Snowflake Data Cloud Summit [23] Q&A Session Summary Question: Drivers of query volume acceleration and price per query pressure [24] - Growth is driven by new customers, expansion from existing customers, and increased workloads like AI and data engineering [25] Question: Efficiency of Arctic LLM and GPU spend [27] - Arctic LLM was trained efficiently due to a unique mixture of experts architecture and pre-experimentation [28] - GPU spend may increase slightly, with investments focused on AI initiatives and hiring [30] Question: Time to value for Cortex and deferred revenue trends [32] - Cortex AI allows customers to quickly adopt AI without upfront GPU commitments, enabling rapid value creation [33] - Deferred revenue trends are influenced by seasonal billing patterns, with RPO growth reflecting strong customer commitments [34][35] Question: April usage moderation and storage revenue impact [36][38] - April usage was muted due to seasonal factors like Easter holidays, but Q2 guidance reflects current consumption trends [37] - Tiered storage pricing impacted margins by $6 million to $8 million in Q1, with storage revenue remaining consistent at 11% of total revenue [39] Question: Vision for AI and demarcation lines [41] - AI will impact multiple levels of the data stack, with Snowflake focusing on enterprise-grade AI applications and collaborating with partners for broader AI capabilities [43] Question: RPO acceleration and notable trends [45] - RPO growth was driven by large deals, including a $100 million deal in Q1, reflecting strong customer commitments [46] Question: CEO priorities for 2024 [47] - Priorities include driving product innovation, improving go-to-market efficiency, and engaging with customers and partners [48] Question: Sales and marketing forecast and evolution [50] - The sales motion is evolving to address different customer needs, including data scientists and business leaders, with specialized partner organizations supporting new product offerings [51] Question: Iceberg's potential to accelerate growth [56] - Iceberg enables Snowflake to address a larger data footprint, unlocking new use cases and revenue opportunities by integrating with existing customer data [57][58] Question: Strength in smaller customers and sales/marketing investments [70][73] - Growth from smaller customers was broad-based across industries, with investments in sales and marketing focused on quota-carrying hires and business development [72][74] Question: Cortex and Arctic use cases [76] - Cortex AI is being used for applications like sentiment analysis, summarization, and data extraction, with Arctic LLM enhancing enterprise AI capabilities [77][78] Question: Consumption trends and vertical performance [79] - Consumption growth was broad-based, with strong performance in financial services, technology, and healthcare sectors [80]

Join us in returning to NYC on June 5th to collaborate with executive leaders in exploring comprehensive methods for auditing AI models regarding bias, performance, and ethical compliance across diverse organizations. Find out how you can attend here.Today, data ecosystem giant Snowflake announced it has entered a definitive agreement to acquire TruEra, an AI startup providing tools to test, debug and monitor machine language (ML) models and large language model (LLM) apps in production.While the terms of t ...

Snowflake Inc. (SNOW) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -17.65%. A quarter ago, it was expected that this company would post earnings of $0.17 per share when it actually produced earnings of $0.35, delivering a surprise of 105.88%.Over the last four quarters, the company ...

Snowflake stock jumped late Wednesday after the data analytics company gave a mixed first-quarter report. Earnings came in below analyst expectations, but revenue exceeded consensus. Snowflake (SNOW) boosted its sales outlook for the rest of the year.X The software firm said that it earned an adjusted 14 cents per share on sales of $828.7 million for the April-ending quarter. On average, analysts projected that Bozeman, Mont.-based Snowflake would post adjusted earnings of 18 cents per share on sales of $78 ...