Zacks.com users have recently been watching Snowflake (SNOW) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
In the most recent trading session, Snowflake Inc. (SNOW) closed at $213.12, indicating a +1.08% shift from the previous trading day.
Benoit Dageville, founder and board member at Snowflake, issues a warning to companies that don't embed AI into their workflows.
Recently, Zacks.com users have been paying close attention to Snowflake (SNOW). This makes it worthwhile to examine what the stock has in store.
Snowflake rebounded after new CEO Sridhar Ramaswamy's AI-focused strategy and leadership restored investor confidence post-Slootman's retirement and disappointing FY24 results. First quarter FY26 results showed 26% revenue growth and 34% RPO growth, signaling improving future revenue predictability and stronger customer commitments. Non-GAAP operating margin rose to 9%, alleviating some profitability concerns and indicating effective cost management and operational efficiency improvements.
SNOW's Cortex is now a key growth engine, powering a 26% product revenue gain amid broader AI application demand.
MSFT's broader cloud platform and steady Azure growth give it an edge over SNOW in the AI-driven data platform race.
Option spreads can be profitable even if the underlying stock decreases or remains flat.
The latest trading day saw Snowflake Inc. (SNOW) settling at $215.97, representing a -3.49% change from its previous close.
Artificial intelligence (AI) name Snowflake Inc (NYSE:SNOW) stock is down 3.1% to trade at $216.90 at last glance, looking to snap its three-day win streak with its worst single-day percentage loss since April.
Even though shares of Snowflake Inc. NYSE: SNOW now trade at a new 52-week high, some market participants have recently come in to suggest that even higher prices are to be expected in this stock moving forward. As investors will discover, a very contrarian signal is currently unfolding in Snowflake stock, signaling a potential new rally in the coming months.
With Cortex Gen2 and Openflow, SNOW deepens AI reach and gains traction with partners like Canva and Acxiom.