Data cloud company Snowflake (SNOW -4.71%), a Wall Street favorite, plunged nearly 20% following its fourth-quarter earnings for its fiscal year 2024. While the numbers played a role in the slide, CEO Frank Slootman announced his immediate resignation, which shocked Wall Street.Snowflake immediately named Sridhar Ramaswamy as the new CEO, an internal promotion for the former head of artificial intelligence. Slootman will remain chairman of Snowflake's board.Investors are left to put the pieces together. How ...

A pundit at a prominent bank got notably less bullish on Snowflake (SNOW -4.71%) stock as the trading week kicked off, and the company's stock subsequently fell to close Monday 5.5% lower. While the day wasn't a particularly memorable one for stocks generally, Snowflake's decline was far sharper than the S&P 500 index's 0.1%.Citi makes a deep cutThe person behind the move was Citigroup analyst Tyler Radke. Well before the market opened that day, he chopped his Snowflake price target by a hefty $50 per share ...

Shares of data cloud infrastructure provider Snowflake (SNOW -0.83%) were hammered on Thursday. The stock's beating came after the company's fiscal fourth-quarter earnings report, which featured better-than-expected revenue growth for the period but also included weaker-than-expected guidance for both the first quarter and the full year of fiscal 2025.In addition, news that the tech company's accomplished CEO, Frank Slootman, retired likely played a role in spooking investors, too.With the stock down sharpl ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Snowflake. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

After the market closed Wednesday, Snowflake (SNOW -0.83%) published results for the fourth quarter of fiscal 2024 (ended Jan. 31). While the company posted sales and earnings results that came in ahead of Wall Street's expectations, investors weren't happy.Not only did Snowflake's forward guidance raise concerns, but the data-warehousing specialist announced that CEO Frank Slootman had retired and been replaced in the role by Sridhar Ramaswamy -- the company's former Senior Vice President of AI. Analysts r ...

Week to date, shares of Snowflake (SNOW 1.23%) were down 18% through Thursday's market closing price, according to data provided by S&P Global Market Intelligence.The share price fell sharply following the company's guidance for revenue headwinds in the near term that could spell weaker growth in the next few quarters.Snowflake is wrestling with revenue headwindsManagement noted that it is difficult to assess normalized consumption trends during the holidays, but product revenue still finished the year stro ...

In this video, I will review Snowflake's (SNOW -18.14%) recent earnings report and some key points mentioned during the call, and explain why the stock crashed 20%.*Stock prices used were from the trading day of Feb. 29, 2024. The video was published on Feb. 29, 2024. ...

News of Snowflake CEO Frank Slootman's retirement sparked an 18% plunge in the company's stock price on Thursday, its steepest selloff since the data analytics software vendor debuted on the New York Stock Exchange in 2020.Slootman's departure was announced late Wednesday as part of Snowflake's quarterly earnings report, which included disappointing guidance. Analysts at Mizuho Securities wrote in a note that the stock is getting hammered "as investors digest the resignation" of Slootman, who joined in 2019 ...

Snowflake (SNOW) reported fourth-quarter fiscal 2024 non-GAAP earnings of 35 cents per share, beating the Zacks Consensus Estimate of 17 cents per share. The company reported earnings of 14 cents per share in the year-ago quarter.Revenues of $774.7 million beat the consensus mark by 1.95% and rallied 31.5% year over year. Americas, EMEA and APJ contributed 80%, 15% and 5% to revenues, respectively.In the fourth quarter, Snowflake added 83 customers, with product revenues exceeding $5 million in the trailing ...

Shares of Snowflake dropped 19% in Thursday morning trading, a day after the cloud software company announced that billionaire CEO Frank Slootman will retire and be replaced by Sridhar Ramaswamy, former Google ad chief. Slootman will remain chairman of the board.The company also reported fourth-quarter earnings results and a weaker-than-expected first-quarter outlook on Wednesday. Snowflake said its first-quarter product revenue will total between $745 million and $750 million, compared to analysts' estimat ...