Full Answer
Should you buy Snowflake stock?
With Snowflake stock, you should be more interested in long-term gains than a short-term pop. In the long run, it's a sure growth candidate. Three Stocks Even Better Than SNOW
When does Snowflake start trading?
This week is the busiest for the U.S. IPO market since May 2019. On Wednesday, Sept. 16, cloud-based data storage company Snowflake will start trading on the NYSE under the ticker “SNOW.”
Is Snowflake stock a buy?
Snowflake stock is considered a buy by many analysts. MarketWatch recently reported that 16 out of 30 analysts had a “buy” rating on Snowflake, while the other 14 had a “hold” rating, for a...
Should you buy snpw stock?
Snowflake stock is good for long-term investors. Snowflake is a growth company and has been out of favor with the markets. However, if growth stocks make a comeback, SNOW should see better days....
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Why Snowflake is a buy?
Snowflake previously indicated that its product sales could grow to almost $10 billion by 2029 and the company's margins have also been improving, meaning that it could be solidly profitable in the long run. Snowflake also appears to typically be conservative with its forecasts.
Is it worth investing in Snowflake?
Snowflake is nearing an annual revenue run-rate of $1 billion. That's a big milestone for software growth companies. But SNOW stock is just turning profitable on an "adjusted" or non-GAAP earnings basis.
Is Snowflake a good long term stock?
This founder-led company has a proven track record of innovation, making it a relevant investment for the long term. SNOW has fallen below its 2020 IPO price and is the cheapest it's ever been, despite beating expectations every quarter since going public.
What is the prediction for Snowflake stock?
Stock Price Forecast The 29 analysts offering 12-month price forecasts for Snowflake Inc. have a median target of 180.00, with a high estimate of 530.00 and a low estimate of 110.00. The median estimate represents a +25.21% increase from the last price of 143.76.
Did Buffett Buy Snowflake?
Cloud-based data platform Snowflake (SNOW -2.96%) went public in late 2020 amid a ton of hype, including its rapid growth and backing from Warren Buffett, whose Berkshire Hathaway bought $250 million in shares at the IPO price.
Why is Snowflake so popular?
For general users, Snowflake provides complete ANSI SQL language support for managing day-to -day operations. It's cloud agnostic, with unlimited, seamless scalability across Amazon Web Services (AWS) and Microsoft Azure (with the prospect of adding Google Cloud soon).
Is SNOW stock a buy or sell?
As such, we reiterate our Buy rating on SNOW stock.
Who are snowflakes competitors?
Top 8 Alternatives To SnowflakeGoogle BigQuery. Google's multi-cloud data warehouse BigQuery is highly scalable and designed for business agility. ... Amazon Redshift. ... IBM Db2. ... Panoply. ... Microsoft SQL Server. ... Azure Synapse Analytics. ... Azure Data Lake Storage. ... Oracle Exadata Cloud Service.
Does Snowflake have a moat?
Customers will respond by allocating more projects to Snowflake and, in our view, this gives the company an advantage as they continue to build its competitive moat. It's a longer-term bet on cloud and data. Good bets in our opinion.
Does Snowflake have a future?
For the first quarter, Snowflake expects its product revenue to grow 79%-81% year over year. For fiscal 2023, it expects its product revenue to increase 65%-67%. Analysts expect its total revenue to increase 65% for the year, then grow another 57% in fiscal 2024.
How fast is Snowflake growing?
--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, today announced financial results for its fourth quarter and full year of fiscal 2022, ended January 31, 2022. Revenue for the quarter was $383.8 million, representing 101% year-over-year growth.
Is Snowflake a buy Zacks?
- Hold. Zacks' proprietary data indicates that Snowflake Inc. is currently rated as a Zacks Rank 3 and we are expecting an inline return from the SNOW shares relative to the market in the next few months.
How much is Snowflake worth?
Snowflake (NYSE: SNOW), the cloud-based data warehousing company that went public in September, is valued at over $65 billion, or about $240 per share. Below, we take a look at some of the key risks that the company faces.
What is Snowflake software?
Snowflake’s software enables organizations to manage and analyze large quantities and diverse types of data across public clouds such as Amazon’s AWS, Google Cloud, and Microsoft’s Azure in a single, easy to use platform. Snowflake stands to benefit as businesses increasingly move to the cloud while leveraging big data and artificial intelligence. Although major public cloud players have their own data warehousing solutions, (Amazon’s AWS offers Redshift, while Google offers BigQuery), Snowflake’s platform offers more flexibility compared to rivals and works well across platforms. However, the big cloud players have a strong incentive to promote their own warehousing offerings, as it enables them to lock customers into their platforms and services. There is a possibility that these companies could use their vast resources and control over their respective platforms to gain an edge over Snowflake.
When did Snowflake go public?
Cloud-based data platform company Snowflake (NYSE: SNOW) went public in September 2020 to much fanfare and at a lofty valuation.
How many stocks does Warren Buffett own?
Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett is arguably in a league of his own when it comes to investing. Berkshire Hathaway currently owns 48 securities (46 stocks and two exchange-traded funds), many of which are fantastic investments that you could put money to work in right now.
How much is Snowflake worth?
At its closing price of just under $254, Snowflake is valued at $70 billion. That makes Snowflake, which was founded in 2012, worth more than established companies in the S&P 500 like Bank of New York Mellon ( BK), Hershey ( HSY) and Allstate ( ALL), as well as Dow components Walgreens ( WBA) and Travelers ( TRV).
Is Snowflake a Berkshire play?
Snowflake is not a typical Berkshire play, because it is not yet profitable, even though sales are growing rapidly. Revenue more than doubled in the past six months, to $242 million. But the company posted a net loss of $171 million, slightly less than the loss it posted in the same period a year ago. LendingTree.
Did Warren Buffett buy Snowflake?
Here's a sign Warren Buffett may have gotten his mojo back. Snowflake disclosed last week that Salesforce, the cloud giant that was recently added to the Dow, and Buffett's Berkshire Hathaway would each buy $250 million in Snowflake stock in a private placement following the IPO.
