Skip to content
glittertextlive

glittertextlive

Business Inspiration

  • Accounting
  • Finance
  • Finance Marketing
  • Enterpreneurship
  • Business Analyst
  • Business Ideas
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
You are Here
  • Home
  • Why did Snowflake stock drop today? Analysts question business model as growth slows
Business Analyst

Why did Snowflake stock drop today? Analysts question business model as growth slows

May 27, 20222 min read Keli W. Rodriguez


Sundry Photography/iStock Editorial via Getty Images

Snowflake (NYSE:SNOW) shares fell on Thursday as the data warehousing company reported first-quarter results that missed expectations, prompting some analysts to question the business model.

Related Posts:

  • Salesforce's Earnings Show It's Well Equipped to Weather a Downturn

Stifel analyst Brad Reback noted that while the first quarter “modestly exceeded expectations,” calling out the more than 40% free cash flow margin, a challenging environment is resulting in lower usage.

“[W]e note the marginal revenue beat fell short of expectations as management highlighted some customers are consuming less than originally anticipated amidst a more challenging operating environment and shifting economic landscape,” Reback wrote in a note to clients, adding companies are now moving to “optimize” their cloud spending as a result of slowing businesses.

Reback kept the firm’s hold rating on Snowflake (SNOW) shares and lowered his per-share price target to $120 from $240, a 50% cut.

Snowflake (SNOW) shares fell nearly 4% to $127.53 in late trading, though they were off the lows of the session.

For the quarter ended April 30, Snowflake (SNOW) lost $0.53 a share, on revenue of $422.4M, up 84.5% year-over-year. Wall Street analysts expected the company to lose $0.51 a share on $413M in sales.

The Frank Slootman-led Snowflake (SNOW) said revenue from products rose 84% year-over-year to $394.4M.

Looking ahead, Snowflake (SNOW) expects its second-quarter product revenue to be between $435M and $440M, up 71%-73% year-over-year, with product revenue for its full fiscal year to be in a range of $1.89B to $1.9B, up between 65% and 67% year-over-year

The StreetAccount consensus was for second-quarter product revenue growth of 72%, CNBC reported. For fiscal 2022, the consensus was for growth of 66%. The second-quarter product revenue growth would be the lowest since Snowflake became a public company, Bloomberg reported.

On Tuesday, Rosenblatt analyst Blair Abernethy raised his rating on Snowflake’s (SNOW) stock and said the shares could see strong gains this year.



Source link

Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Business Search, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login, Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login
Share

Post navigation

Blinds.com Founder Jay Steinfeld Shares His Tips for Your Success
Case Study: How the Cookie Monster Ate 22% of Our Visibility

Related Posts

  • How to Boost Your Instagram Organic Growth

    How to Boost Your Instagram Organic Growth

    July 1, 2022
  • Every Business User Deserves an Analyst To Derive Insights From Data

    July 1, 2022
  • Negotiating contracts 6 tips

    Steps to Achieving Your Goals During Contract Negotiations

    June 30, 2022

Archives

  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2018
  • October 2018
  • January 2017

Categories

  • Accounting
  • Business Analyst
  • Business Ideas
  • Enterpreneurship
  • Finance
  • Finance Marketing
  • General

bayar.ooo

BUSINESS

real estate attorney

Visit Now

car rental las vegas
Intellifluence Trusted Blogger

BL

TL

ms glow malang

buybacklinks.online 

You May Have Missed

How to Boost Your Instagram Organic Growth
Business Analyst

How to Boost Your Instagram Organic Growth

July 1, 202210 min read
Business Analyst

Every Business User Deserves an Analyst To Derive Insights From Data

July 1, 20224 min read
Negotiating contracts 6 tips
Business Analyst

Steps to Achieving Your Goals During Contract Negotiations

June 30, 20224 min read
Hidden Secret For Product Photography with Lauren Petrullo [VIDEO]
Business Analyst

Hidden Secret For Product Photography with Lauren Petrullo [VIDEO]

June 29, 20222 min read

Categories

  • Accounting
  • Business Analyst
  • Business Ideas
  • Enterpreneurship
  • Finance
  • Finance Marketing
  • General
glittertextlive.com All Rights Reserved
Proudly powered by WordPress | Theme: Engage Mag by Candid Themes.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT