Snowflake shares soared in after-hours trade Wednesday, after the company's fiscal fourth-quarter revenue topped estimates and it offered upbeat guidance for fiscal 2026.
CNBC's Seema Mody joins 'Closing Bell Overtime' to talk Snowflake Q4 results.
Snowflake forecast annual 2026 product revenue above analysts' estimates on Wednesday, as the data analytics provider sees rising cloud service growth amid advancements in artificial intelligence.
Though the market will be focused on the highly-anticipated Nvidia (NVDA) report, cloud name Snowflake Inc (NYSE:SNOW) will also announce its latest quarterly earnings after the close today.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
The company is expected to post fourth-quarter earnings of 18 cents a share on revenue of $957 million.
Snowflake: A Stellar Rally Is Likely Coming
SNOW stock benefits from a strong portfolio and a rich partner base despite trading at a stretched valuation.
Snowflake (SNOW -3.82%) shares have soared 47% over the last six months at the time of this writing. Wolfe Research analyst Alex Zukin recently upgraded the stock to an outperform (buy) rating with a $235 price target, implying upside of 24% over the current $189 share price.
Beyond analysts' top -and-bottom-line estimates for Snowflake (SNOW), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended January 2025.
In the closing of the recent trading day, Snowflake Inc. (SNOW) stood at $184.96, denoting a -0.86% change from the preceding trading day.
Snowflake: A Strong Buy Before Earnings