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OFFON

SNOWFLAKE INC.

(SNOW)
  Report
Delayed Quote. Delayed Nyse - 12/02 04:10:00 pm
360.28 USD   +15.85%
12/02AFTER HOURS WATCH LIST SCORECARD : Snow, five, estc
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12/02Tech Stocks Higher on Thursday
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12/02Tech Stocks Gaining But Chipmakers Weighing on Sector
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Snowflake Shares Down 3.7% After Investor-Day Presentation

06/11/2021 | 02:49pm EST

By Michael Dabaie

Snowflake Inc. shares were down 3.7% to $239.58 in afternoon trading after the company outlined a fiscal 2029 outlook for $10 billion in product revenue.

The cloud data warehousing software company said Thursday at its investor-day presentation that it has a longer-term outlook of $10 billion in product revenue, as well as 10%-plus operating margin.

Mizuho Securities USA said in a note that the company didn't update its total addressable market to incorporate the data-cloud opportunity, saying "while SNOW reiterated that its Data Cloud opportunity (encompassing data sharing/network effects) is 'significantly larger' than its TAM, it didn't quantify this yesterday, with mgmt stating that it remains immeasurable."

The firm noted that Snowflake had risen in the run-up to the investors day.

"While some investors were likely hoping for more...it's important to note the shares recently had a strong rebound...and expectations had likely risen into the event," Mizuho said.

Concerning the long-term targets, Truist Securities said: "We see this trajectory as in-line with our base case model and believe that there could be upside to estimates."

Stifel pointed to the company's data-platform and pricing model.

"Net/net, we believe Snowflake's disruptive data-platform and pricing model, coupled with workload and usage secular-growth, should generate sizable new logos gains and strong up-sell/cross-sell activity, yielding 50%+ top-line growth in coming years. Given recent success and growth opportunities, we expect Snowflake to remain in investment mode for the foreseeable future, although we believe there will be ample leverage in the model over time," Stifel said in an analyst note.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

06-11-21 1448ET

All news about SNOWFLAKE INC.
12/02AFTER HOURS WATCH LIST SCORECARD : Snow, five, estc
MT
12/02Tech Stocks Higher on Thursday
MT
12/02Tech Stocks Gaining But Chipmakers Weighing on Sector
MT
12/02Snowflake to See 'Rapid' Revenue Growth in Coming Years, Oppenheimer Says
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12/02JMP Securities Adjusts Price Target on Snowflake to $385 From $350, Maintains Market Ou..
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12/02Oppenheimer Adjusts Snowflake PT to $400 From $360, Maintains Outperform Rating
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12/02Goldman Sachs Adjusts Snowflake's Price Target to $390 From $340, Maintains Buy Rating
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12/02JPMorgan Adjusts Snowflake's Price Target to $340 From $325, Maintains Neutral Rating
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12/02Morgan Stanley Adjusts Price Target for Snowflake to $344 From $295, Maintains Equalwei..
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12/02Truist Securities Adjusts Snowflake PT to $400 From $350, Maintains Buy Rating
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Analyst Recommendations on SNOWFLAKE INC.
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Financials (USD)
Sales 2022 1 209 M - -
Net income 2022 -735 M - -
Net cash 2022 2 606 M - -
P/E ratio 2022 -152x
Yield 2022 -
Capitalization 108 B 108 B -
EV / Sales 2022 87,5x
EV / Sales 2023 53,2x
Nbr of Employees 2 495
Free-Float 95,0%
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Technical analysis trends SNOWFLAKE INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 360,28 $
Average target price 388,77 $
Spread / Average Target 7,91%
EPS Revisions
Managers and Directors
Frank Slootman Chairman & Chief Executive Officer
Michael P. Scarpelli Chief Financial Officer
Thierry Cruanes Chief Technology Officer
Sunny Bedi Chief Information & Development Officer
Mike L. Speiser Lead Independent Director
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