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37 stories mentioning SNOWUpdated 7d ago

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Research

Research Alert: CFRA Lowers Opinion On Shares Of Snowflake Inc. To Buy From Strong Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our price target by $40 to $280, using an EV/sales ratio of 17x on our FY 27 (Jan.) sales view, above SNOW's three-year average (~14x) on AI tailwinds. We lift our FY 27 EPS estimate by $0.15 to $2.17 (sales view +$181M to $6.13B) and raise FY 28's by $0.33 to $3.21 (sales +$310M to $7.69B). SNOW's FY 27 product revenue guidance was increased materially (to 31% from 27% prior), with annual revenue growth now set to accelerate for the first time since the IPO. The bump primarily reflects the inclusion of consumption patterns for Cortex Code (GA in Feb.), where we expect accelerating adoption to also benefit core platform consumption. SNOW's new $6B deal with AWS (more than double its prior commitment) reflects confidence and should bring significant volume discounts and product efficiencies, helping SNOW raise its operating margin guidance to 13.5% for FY 27 (from a prior 12.5% view). Our downgrade is valuation-based as we see a less attractive buying opportunity with shares up ~30% this morning.

$SNOW
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid New US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.04% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Thursday's premarket activity as new US attacks on Iran led to rising oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 215,000 in the week ended May 23 from an upwardly revised 210,000 level in the previous week, compared with expectations for a level of 211,000 in survey of analysts compiled by Bloomberg.New orders for US durable goods rose by 7.9% in April following a smaller increase of 1.3% in March, well above the expectations for a 4.0% increase in a survey compiled by Bloomberg.The new-home sales data for April will be released at 10 am ET, followed by the weekly natural gas stocks at 10:30 am ET.The weekly petroleum stocks data posts at 12 pm ET.New York Federal Reserve President John Williams and St. Louis Fed President Alberto Musalem are slated to speak on Thursday.In premarket activity, bitcoin was down by 2.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% lower, Ether ETF (EETH) retreated by 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 1.1%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, and the iShares US Technology ETF (IYW) was 0.4% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 0.9%, while the iShares Semiconductor ETF (SOXX) lost 1%.Snowflake (SNOW) shares were up more than 38% in Thursday's premarket activity after the company lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) gained 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.Borr Drilling (BORR) stock was up more than 5% before the opening bell after the company priced an upsized $2.04 billion senior secured notes offering and simultaneously expanded a tender offer for its outstanding 10.375% senior secured notes due 2030.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%. The iShares US Consumer Staples ETF (IYK) was 0.8% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.8% higher.Burlington Stores (BURL) shares were down more than 2% pre-bell even after the company posted higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.5%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.American Superconductor (AMSC) stock was down more than 2% before the opening bell after the company provided lower-than-expected fiscal Q1 guidance.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was 1.1% higher, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% higher.Sanofi (SNY) stock was down more than 1% premarket. The company said it has been granted a US Food and Drug Administration priority review for a new drug application for venglustat for the treatment of type 3 Gaucher disease, a rare disorder.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) declined by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Bank of Montreal (BMO) shares were up more than 1% pre-bell after the company reported higher fiscal Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.9% to $91.23 per barrel on the New York Mercantile Exchange. Natural gas was up 0.5% at $3.11 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.5%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for July retreated by 1.5% to $4,414.10 an ounce on the Comex. Silver futures declined by 2.5% to $73.04 an ounce. SPDR Gold Shares (GLD) was down by 1.1%, and the iShares Silver Trust (SLV) fell by 1.7%.

Dow JonesNasdaq CompositeS&P 500$AMSC$BETH$BITO$BMO$BORR$BURL$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SNOW$SNY$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Mixed Premarket Thursday

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.1% higher and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 0.4%.Snowflake (SNOW) stock was up more than 36% after the company reported higher fiscal Q1 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.IBM (IBM) and Red Hat have committed $5 billion toward a software protection program named Project Lightwell, the companies said. IBM stock was up more than 2% pre-bell.Synopsys (SNPS) shares were down more than 1% after the company posted a decline in fiscal Q2 non-GAAP earnings.

$IBM$SNOW$SNPS$XLK$XSD
Asia Markets

Fresh Military Strikes Between US, Iran Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Thursday as fresh US and Iranian strikes once again threatened the fragile ceasefire between the two nations, reducing optimism surrounding a potential peace deal.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% lower.The US military said it had fired on Iranian drones over the Strait of Hormuz and attacked a military site in the port city of Bandar Abbas, which is the second time in three days it has struck targets in Iran for what it called self-defense. Iran said it responded by launching an attack on an American air base in the region.Traders observed the latest round of earnings, including those of several major Canadian banks. Royal Bank of Canada (RY) reported higher fiscal Q2 adjusted earnings and revenue, while Toronto-Dominion Bank (TD) posted increased fiscal Q2 adjusted earnings amid lower revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.2% at $94.26 per barrel and US West Texas Intermediate crude 2.4% higher at $90.73 per barrel.The April core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.2%, lower than the 0.3% increase in the prior month and the expected 0.3% gain in a survey compiled by Bloomberg.Initial jobless claims rose to 215,000 in the week ended May 23 from 210,000 level in the previous week, compared with expectations for a smaller increase to 211,000. Preliminary Q1 GDP growth was recorded at a 1.6% rise, compared with the advance estimate of a 2% increase.Durable goods new orders rose 7.9% in April after a 1.3% gain in the prior month, compared with expectations for a 4% increase.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 0.7% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 4.6% after the company said its unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative. Snowflake (SNOW) stock was 37% higher after the cloud-based data platform lifted its fiscal 2027 product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services. Royal Bank of Canada shares were up 1.7% after the bank reported its fiscal Q2 financial results.On the losing side, HSBC (HSBC) stock was down 2.2% after a Bloomberg News report that UK's Cambridge University was withdrawing its investments from institutions providing financial support to fossil fuels, including the British bank. AstraZeneca (AZN) shares were 0.8% lower after the company said that the US Food and Drug Administration delayed the decision deadline for its new drug application regarding a combination breast cancer treatment.

Dow JonesNasdaq CompositeS&P 500$AMZN$AZN$DELL$HSBC$RY$SNOW$TD
Sectors

Sector Update: Tech

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly higher and the State Street SPDR S&P Semiconductor ETF (XSD) marginally declining.Snowflake (SNOW) stock was up more than 36% after the company reported higher fiscal Q1 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.

$SNOW
Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck
US Markets

Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck

The main US stock measures were trending lower in Thursday's premarket activity amid renewed tensions in the Middle East, while traders await key inflation and economic data.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each before the opening bell, while the Nasdaq was off 0.2%. The indexes finished Wednesday's trading session with fresh highs.Iran's Islamic Revolutionary Guard Corps said Thursday it targeted a US airbase, CNBC reported, citing Tehran's semi-official Tasnim news agency.The reported attack came after a US official told MS Now on Wednesday that US forces carried out strikes against a military site believed to threaten its troops and commercial shipping through the Strait of Hormuz.West Texas Intermediate crude oil increased 1.7% to $90.21 a barrel in premarket action, while Brent rose 1.6% to $95.81.President Donald Trump on Wednesday said that no single country will control the crucial Strait of Hormuz, according to Bloomberg News. "Nobody's going to control it, it's international waters," Trump reportedly said at the White House. "The strait's going to be open to everybody," and the US will "watch over it," he added.Earlier on Wednesday, Trump expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported. Iranian state TV previously claimed that a draft memorandum on ending the conflict calls for the US to withdraw its military forces and lift the naval blockade in return for reopening the Strait of Hormuz within a month. However, the White House dismissed it as a "complete fabrication," according to CNN.The personal income and outlays report for April is due to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.Treasury yields were moving higher before the open, with the two-year rate gaining 2.7 basis points to 4.06% and the 10-year rate adding 1.2 basis points to 4.49%.Thursday's economic calendar also has the second estimate report of the first-quarter gross domestic product at 8:30 am, along with the weekly jobless claims bulletin and the durable goods orders report for last month. The new home sales report for April is out at 10 am, followed by the EIA domestic petroleum inventories report at 12 pm.New York Fed President John Williams is slated to speak at 8:55 am, while St. Louis Fed President Alberto Musalem speaks at 10:15 am. Richmond Fed President Thomas Barkin's remarks are due at 3 pm.Shares of Snowflake (SNOW) jumped 38% pre-bell after the cloud-based data platform lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform. Salesforce (CRM) declined nearly 2% as the company issued a soft fiscal second-quarter outlook.Marvell Technology (MRVL) and Synopsys (SNPS) dropped 3.3% and 2.8%, respectively, following their latest quarterly results.Burlington Stores (BURL), Dollar Tree (DLTR), Li Auto (LI), XPeng (XPEV), Best Buy (BBY) and Hormel Foods (HRL) are expected to release their earnings before the bell, among others. Costco Wholesale (COST), Dell Technologies (DELL) and MongoDB (MDB) are scheduled to announce their results after the markets close.Gold fell 1.1% to $4,400 per troy ounce, while bitcoin slipped 2.2% to $73,258.

Dow JonesNasdaq CompositeS&P 500$BBY$BURL$COST$CRM$DELL$DLTR$HRL$LI$MDB$MRVL$SNOW$SNPS$XPEV
Snowflake Raises Full-Year Product Revenue Outlook; Announces $6 Billion Spending Deal With Amazon
US Markets

Snowflake Raises Full-Year Product Revenue Outlook; Announces $6 Billion Spending Deal With Amazon

Snowflake (SNOW) shares jumped early Thursday after the cloud-based data platform raised its full-year product revenue outlook on the back of better-than-expected fiscal first-quarter results, while the company agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform.Product revenue, which accounts for the majority of the firm's total revenue, is now anticipated to come in at $5.84 billion for fiscal 2027, representing annual growth of 31%, Snowflake said late Wednesday. The company previously projected the key metric to be at $5.66 billion, while the current consensus on FactSet is for $5.78 billion.The stock surged 36% in the most recent premarket activity."Our forecast is based on existing consumption patterns," Chief Financial Officer Brian Robins said during an earnings call, according to a FactSet transcript. "Given the strength we've observed in both our core data platform business and (artificial intelligence) business, we are raising our guidance for the year."In a separate statement, Snowflake said it's expanding its collaboration with Amazon Web Services with a $6 billion commitment over five years for Graviton compute and AI workloads on Amazon's cloud, citing rising demand for data and AI services."AWS has committed to an expanded go-to-market investment and collaboration," Robins said on the call. "This agreement marks an important milestone in our ongoing partnership with AWS, and its impact is fully incorporated into our outlook."For the three months through April, Snowflake's adjusted earnings increased to $0.39 a share from $0.24 the year before, topping the Street's view for $0.32. Revenue climbed 33% to $1.39 billion, ahead of the average analyst estimate of $1.33 billion. Product revenue grew 34% to $1.33 billion, surpassing the market's forecast of $1.27 billion.The net revenue retention rate was 126%, while remaining performance obligations, or RPO, gained 38% year over year to $9.21 billion, according to the company."AI continues to be a powerful tailwind for Snowflake, and (the first quarter) marks a clear inflection point in that journey," Chief Executive Sridhar Ramaswamy said in a statement. "We are seeing strong momentum from both AI-driven acceleration of our core platform and growing adoption of our first-party AI products."The company expects product revenue of up to $1.42 billion for the current quarter, representing annual growth of about 30%. The Street is looking for $1.4 billion."(Snowflake's) deep infrastructure capabilities represent a strong moat that we believe positions (Snowflake) to capitalize on the AI revolution transforming the enterprise landscape front and center," Wedbush Securities said in an emailed client note. The brokerage raised its price target on the firm's stock to $280 from $270 and maintained its outperform rating.

$AMZN$SNOW
Research

Research Alert: Snow Beats Expectations In Q1, Lifts Fy 27 Guidance As Ai Momentum Continues

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SNOW posted Q1 FY27 sales of $1.39B (+33% Y/Y), beating consensus $1.32B, with product revenue of $1.33B (+34%, accelerating from +30% in Q4). Non-GAAP EPS of $0.39 (+63%) exceeded Street expectations of $0.32, while operating margin of 11.9% surpassed 9% guidance. The company raised Q2 product revenue guidance to $1.415-1.420B (implying total revenue of about $1.49B vs. $1.44B consensus) and lifted FY27 product revenue guidance to $5.84B from $5.66B, with operating margin guidance increased to 13.5% from 12.5%. We find these results comforting amid recent software selling pressures, as SNOW continues positioning as a net beneficiary of rapidly improving AI capabilities. Growth metrics stabilized with NRR at 126% (+100 bps Q/Q, +200 bps Y/Y) and AI product accounts surging to 13,600 from 9,100 (+49% Q/Q). Strategic partnerships expanded with a $6B AWS agreement and deepened OpenAI collaboration. We expect margin outperformance to continue as costs remain below feared levels while revenue exceeds expectations.

$SNOW
Wire

Snowflake Fiscal Q1 Adjusted Earnings, Revenue Rise; Shares Gain After-Hours

Snowflake (SNOW) reported fiscal Q1 adjusted net income late Wednesday of $0.39 per diluted share, up from $0.24 a year earlier.Analysts polled by FactSet expected $0.32.Revenue for the quarter ended April 30 rose to $1.39 billion from $1.04 billion a year earlier.Analysts surveyed by FactSet expected $1.32 billion.The company expects fiscal Q2 product revenue of $1.415 billion to $1.420 billion. Analysts expect $1.37 billion.The company now expects fiscal 2027 product revenue of $5.84 billion, up from the prior forecast of $5.66 billion. Analysts expect $5.67 billion.Shares of Snowflake rose about 29% in after-hours activity.

$SNOW
Equities Mixed Intraday as Markets Track US-Iran Peace Talks
US Markets

Equities Mixed Intraday as Markets Track US-Iran Peace Talks

US benchmark equity indexes were mixed after midday Wednesday as traders continued to monitor US-Iran peace deal negotiations.The Dow Jones Industrial Average was up 0.4% at 50,646.7 intraday, while the Nasdaq Composite fell 0.2% to 26,611.6. The S&P 500 slipped 0.1% to 7,509.8. Both the Nasdaq and the S&P 500 notched new record closing highs in the previous session.Among sectors, consumer discretionary paced the gainers, while energy and financials saw the biggest drop.Iranian state TV reportedly claimed that a draft memorandum on ending the three-month-old conflict calls for the US to withdraw its military forces and lift the blockade of Iranian ports in return for the reopening of the Strait of Hormuz within a month. However, the White House dismissed it as a "complete fabrication," CNN reported.President Donald Trump on Wednesday expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported.West Texas Intermediate crude oil was down 4.4% at $89.77 a barrel intraday Wednesday, while Brent fell 4.1% to $95.54.US Treasury yields were mixed intraday Wednesday, with the 10-year rate down 1.1 basis points at 4.48% and the two-year rate little changed at 4.04%.In company news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Wednesday at a conference that the bank's expenses this year could be "closer" to $106 billion, or $1 billion higher than previously projected. JPMorgan shares were down 3%.Dimon also said that "there might be in the next couple of years a chance to put $10 billion or $20 billion to work buying something," referring to a potential merger and acquisition story, according to a FactSet transcript.Zscaler (ZS) shares tanked nearly 32% intraday after the cloud security company provided a fiscal fourth-quarter revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.PDD's (PDD) first-quarter earnings unexpectedly declined year over year, while the Chinese e-commerce platform's revenue fell short of market estimates. The stock slid nearly 12% intraday.Abercrombie & Fitch's (ANF) fiscal first-quarter earnings topped Wall Street's projections amid record sales for the apparel retailer. The company's shares jumped nearly 12% intraday.Marvell (MRVL), Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) were scheduled to release their quarterly results after the markets close Wednesday.Gold was down 1.4% at $4,441 per troy ounce, while silver lost 2.2% $74.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$ANF$CRM$HPQ$JPM$MRVL$PDD$SNOW$SNPS$ZS
Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists
US Markets

Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists

US equity futures were trending higher on Wednesday amid tech-driven momentum from the previous trading session, while investors continue to monitor ongoing uncertainty in the Middle East.The S&P 500 rose 0.3%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.4% in premarket activity. The Nasdaq and the S&P 500 finished Tuesday trading at new record peaks, while the Dow closed lower.Shares of Micron Technology (MU) advanced 5.7% pre-bell after finishing the prior session up 19%. The semiconductor manufacturer's market capitalization crossed the $1 trillion mark for the first time on Tuesday, with UBS Securities increasing its price target on the company's stock.Marvell (MRVL) rose 6% before the bell, while Seagate (STX) and Western Digital (WDC) gained 3.6% and 3.3%, respectively.Investors are also keeping an eye out for any updates on peace talks between the US and Iran. Tehran's Islamic Revolutionary Guard Corps reportedly said Tuesday that Iran has a "legitimate" right to respond to any violation of a ceasefire by the US.Earlier in the week, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz, in what it described as "self-defense strikes," according to multiple media outlets. President Donald Trump said Monday that negotiations with Iran were "proceeding nicely.""While an extended conflict with Iran remains the largest risk to continued market gains, in our view, markets are positioned for more progress on peace talks and the Strait of Hormuz reopening," D.A. Davidson said in a report Tuesday.West Texas Intermediate crude oil declined 4% to $90.12 a barrel before the opening bell, while Brent fell 3.2% to $96.43.Treasury yields were down in premarket action, with the two-year rate retreating 2.9 basis points to 4.02% and the 10-year rate off 2.6 basis points to 4.47%.US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Federal Reserve Bank of Richmond's manufacturing index for May at 10 am. The Atlanta Fed's survey of business uncertainty for this month is out at 11 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 3:55 pm, while Fed Vice Chair Philip Jefferson speaks later at 8 pm.PDD (PDD), Dick's Sporting Goods (DKS), Dycom Industries (DY), Bath & Body Works (BBWI), Abercrombie & Fitch (ANF), Manchester United (MANU) and Capri (CPRI) report their latest financial results before the bell, among others. Marvell, Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) post their earnings after the markets close.Gold edged down 0.4% to $4,484 per troy ounce, while bitcoin was up slightly at $75,878.

Dow JonesNasdaq CompositeS&P 500$ANF$BBWI$CPRI$CRM$DKS$DY$HPQ$MANU$MRVL$MU$PDD$SNOW$SNPS$ZS
Wire

Snowflake Well-Positioned to Benefit From Rising AI Demand, Wedbush Says

Snowflake (SNOW) is a "strong" second-derivative player in the artificial intelligence revolution and is "well-positioned" to benefit from rising enterprise demand for AI applications as more workloads move to the cloud over the next 12 to 18 months, Wedbush Securities said in a company report Monday.The brokerage said it expects "another robust quarter" of growth when Snowflake reports fiscal Q1 results after the bell on May 27, as Wall Street's revenue estimate of $1.32 billion appears "conservative."Wedbush analysts cited continued strength in Snowflake's core data warehousing business and growing enterprise demand for secure, governed and auditable data infrastructure to support AI workloads.The brokerage also highlighted Snowflake's $9.77 billion remaining performance obligations backlog and its expanding customer base of more than 13,000 clients as indicators of future growth.Snowflake's "model-agnostic" platform allows enterprises to work with AI models from companies such as Amazon-backed (AMZN) Anthropic and Microsoft-backed (MSFT) OpenAI without re-architecting data pipelines, reinforcing its role as a "trusted" layer between enterprise data and AI systems, the brokerage said.Wedbush maintained an outperform rating on Snowflake, with a price target of $270.Shares of Snowflake were up 3.9% in Tuesday trading.Price: $178.97, Change: $+6.77, Percent Change: +3.93%

$AMZN$MSFT$SNOW
Wire

Snowflake to Report 'Solid' Q1 Results, Oppenheimer Says

Snowflake (SNOW) is expected to report "solid" Q1 results, benefiting from steady in-quarter consumption and pipeline generation across regions and verticals, Oppenheimer analysts said in a Tuesday note.The company is scheduled to report its Q1 financial results on May 27.Analysts said that Snowflake is receiving growing customer engagement with Cortex and Snowflake Intelligence, healthy large-deal activity, and accelerating demand toward the end of the quarter.Oppenheimer said that Snowflake's competition with Databricks is intensifying as both vendors expand beyond their traditional strongholds, but noted that most enterprises operate in parallel with minimal head-to-head displacement.Analysts said that the company's key driver remains data warehouse and analytics-driven consumption, but AI use cases continue to ramp up as a percentage of deals.Oppenheimer has an outperform rating on the stock and a $250 price target.Price: $151.00, Change: $-0.50, Percent Change: -0.33%

$SNOW
Wire

Datadog is Executing 'Very Well' and End-Market Demand is Inflecting, BofA Says

Datadog (DDOG) is executing "very well" and end-market demand is inflecting, with the company's Q2 revenue growth guidance looking "impressive" and Q1 performance suggesting ongoing revenue growth acceleration, BofA Securities said in a Thursday note.The company's announcement of two deals signed with artificial intelligence labs in "two of the world's largest technology companies" validates thesis that Datadog "solves mission critical and hard problems," BofA said, adding that accelerating foundational AI model usage and newly built specialized enterprise AI models are a tailwind for the company.Datadog's Q1 results are a positive read for the other pure-play public observability vendors like Dynatrace (DT), while also being a positive signal for Snowflake (SNOW) and MongoDB (MDB) that play on similar themes of AI, digital transformations, and cloud migrations, BofA said.BofA raised its earnings per share estimate on Datadog to $2.43 from $2.11 for 2026, to $2.66 from $2.35 for 2027, and to $3.06 from $2.65 for 2028.BofA lifted its price target on the company's stock to $225 from $170 and maintained its buy rating.Price: $192.14, Change: $+3.41, Percent Change: +1.80%

$DDOG$DT$MDB$SNOW
Insider Trading

Snowflake Insider Sold Shares Worth $7,184,691, According to a Recent SEC Filing

Michael L Speiser, Director, on May 01, 2026, sold 50,741 shares in Snowflake (SNOW) for $7,184,691. Following the Form 4 filing with the SEC, Speiser has control over a total of 2,606,421 common shares of the company, with 22,509 shares held directly and 2,583,912 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000143364426000007/xslF345X05/wk-form4_1777938147.xml

$SNOW
Wire

BofA Securities Adjusts Price Target on Snowflake to $195 From $275, Maintains Neutral Rating

Snowflake (SNOW) has an average rating of buy and mean price target of $229.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $156.22, Change: $+5.38, Percent Change: +3.57%

$SNOW
US Markets

Stocks Mostly Down Pre-Bell as US-Iran Talks Loom; Consumer Inflation Report on Deck

The main US stock measures were mostly tracking in the red before the open Friday as traders await talks between US and Iranian officials and a key report on consumer inflation.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each in premarket activity, while the Nasdaq was up less than 0.1%. The indexes finished the previous trading session higher, with the S&P 500 and the Nasdaq recording their seventh straight day of gains.Officials from the US and Iran are expected to meet on Saturday in Pakistan, which helped broker the truce between the two countries earlier in the week.Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, previously called Israel's continued attacks on Lebanon a violation of the ceasefire agreement between Washington and Tehran.In a social media post on Thursday, President Donald Trump said Iran was "doing a very poor job" of allowing oil to go through the Strait of Hormuz. "That is not the agreement we have," Trump said.Iranian state media reported that transit through the strait was halted following Israeli strikes on Lebanon.West Texas Intermediate crude oil nudged 0.2% higher to $98.02 a barrel before the opening bell, while Brent ticked up 0.1% to $95.97. "With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING Bank said in a note on Thursday.The consumer price index report for March is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation accelerated 0.9% and 3.4% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were down in premarket action, with the two-year rate retreating 0.2 basis points to 3.78% and the 10-year rate off 0.4 basis points to 4.29%.Government data on Thursday showed that inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, according to the Bureau of Economic Analysis' third estimate.Minutes from the Federal Reserve's March meeting showed earlier in the week that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for April at 10 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares gained 2% pre-bell after the chipmaker disclosed a year-over-year increase in its first-quarter revenue. Snowflake (SNOW) rebounded 0.2% following a 12% drop at the close of the previous trading session.Gold declined 0.8% to $4,779 per troy ounce, while bitcoin slipped 0.2% to $71,920.

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