Wedbush Securities analyst Daniel Ives has significantly increased his optimism on the next phase of the AI revolution, focusing on its transformative impact on the software sector.
Wedbush upgrades Snowflake (SNOW) and raises its price target for Palantir (PLTR). Alex Coffey looks at the analyst calls and places example options trades in both SNOW and PLTR.
Last week, data company Snowflake (SNOW 5.16%) reported financial results for its fiscal third quarter of 2025. The market responded favorably to the report as evidenced by a big jump in Snowflake's stock price.
Silicon Valley-based Snowflake is “in the sweet spot” to benefit from wider use of AI among businesses over the next 12 to 18 months, according to Wedbush analyst Dan Ives.
It had been a very difficult year for Snowflake (SNOW -2.28%) stock going into its fiscal 2025 third-quarter earnings report. Then investors got something to cheer about in its results and the stock skyrocketed higher.
Snowflake's Q3 earnings exceeded expectations, with $0.20 adjusted EPS and $942M in revenue, driving a 33% stock surge on Thursday. Strong customer acquisition, near-30% top line growth and an increase in FY 2025 revenue guidance affirm Snowflake's growth potential. Snowflake's free cash flow margin improved sequentially, and the platform generated a solid $78.2M in FCF in Q3.
The company reported increases in several critical categories in the most recently completed quarter.
Snowflake NYSE: SNOW shares wallowed near long-term lows for years as concerns about slowing growth and financial health weighed on sentiment, but the times have changed. The Q3 results reveal persistent strength, swelling client counts, and depending penetration of services, revealing its industry-leading position in data management and value for investors.
Snowflake (NYSE:SNOW) stock is fresh off its best day ever, melting up by nearly 33% in a single day.
Snowflake's stock surged 48% since my 'Strong Buy' rating in August 2024; I reiterate a 'Strong Buy' with a $215 price target. SNOW's strategic partnership with Anthropic will enhance Cortex AI, driving significant growth and adoption among existing customers. Q3 FY25 results showed 28.3% YoY revenue growth, 55% RPO growth, and a net retention rate of 127%, prompting raised full-year guidance.
Byron Deeter, Bessemer Venture Partners partner, joins 'Closing Bell Overtime' to talk Snowflake's best trading day ever.
Nvidia reported Q3 revenue of $35.1 billion, up 94% from last year with data center sales reaching $30.8 billion. Fellow tech firms showed mixed results, with Snowflake growing 29% to $900 million in revenue, while artificial intelligence (AI) startup BEN recorded $50,000 in its first significant quarterly sales amid mounting losses.