Snowflake Stock News: 14 Things for SNOW Stock Investors to Know Today

Snowflake (NYSE:SNOW) stock is on the move Thursday after releasing earnings news for its third quarter of fiscal 2021.

The Snowflake logo on a company office in Silicon Valley, California. (SNOW IPO)
Source: Sundry Photography / Shutterstock.com

Here’s what investors need to know about the movement for SNOW stock today.

  • Snowflake originally saw its stock fall about 3.6% on Wednesday after releasing its earnings report.
  • That was due to its results and guidance not quite performing as well as expected.
  • However, analysts were positive about the report with strong revenue growths during the period.
  • As a result, several spoke up to weigh in on the company after its earnings results.
  • Deutsche Bank analyst Patrick Colville was among them and says that the company’s guidance might be a bit on the conservative side.
  • This saw the analyst boosting his price target for the stock to $335 from $305.
  • Morgan Stanley felt similar about the results and also boosted its price target for SNOW stock.
  • This has it upping its price target to $265 from to $220.
  • Piper Sandler also joined in by increasing its price target to $312 from $264.
  • Investors are taking note of analysts’ bullish stance on SNOW stock.
  • As of this writing, more than 5 million shares have traded.
  • That’s a decent boost over its daily average trading volume of 3.48 million shares.
  • All of this positive news for Snowflake is easily allowing it to recover from the blow it suffered yesterday.
  • The stock ended Wednesday at $292.69 per share but is up to around $337 per share in morning trading.

SNOW stock was up 15.5% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/snowflake-stock-news-sends-snow-soaring/.

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