"Shares of cloud-based storage solutions provider Snowflake Inc. (NYSE: SNOW) surged 11.97% over the past month after gaining 15.35% the month prior. When the company reported Q2 earnings on Aug. 27, it announced: Product revenue: $1.09 billion, representing 32% YoY growth. Total revenue: $1.14 billion, beating analysts' estimates of $1.09 billion and representing a 31.8% YoY increase. Adjusted earnings per share (EPS): 35 cents, significantly beating the consensus estimate of 27 cents."
"As a result, the stock received numerous price target adjustments to the upside this summer. Analysts at Bernstein ($221 from $191), Bank of America ($280 from $240), BTIG ($276 from $235), Canaccord ($260 from $220), Citi ($275 from $250), Jefferies ($270 from $250), JPMorgan ($255 from $225), Morgan Stanley ($272 from $262), Raymond James ($230 from $212), Stifel ($260 from $220) and Wells Fargo ($275 from $250) all raised their price targets on SNOW following the Q2 earnings beat."
Snowflake, a cloud-based storage solutions provider, saw its stock surge recently and recover 91.63% from its April 4 year-to-date low, producing a 58.90% year-to-date gain. Q2 results showed product revenue of $1.09 billion (32% year-over-year), total revenue of $1.14 billion (31.8% year-over-year) that beat estimates, and adjusted EPS of $0.35 versus a $0.27 consensus. Numerous analysts raised price targets after the earnings beat. Snowflake competes with Google BigQuery and Amazon Redshift while operating in a cloud computing market projected to grow strongly through 2030. Q3 earnings are expected on Nov. 19, 2025.
Read at 24/7 Wall St.
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