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Fool.com contributor and finance professor Parkev Tatevosian discusses his why he thinks everyone is talking about Snowflake (NYSE: SNOW) stock. *Stock prices used were the afternoon prices of May 31, 2023.
Cloud-native data warehousing specialist Snowflake's (NYSE: SNOW) shares fell by over 15% after the company released results for the first quarter of fiscal 2024 (ending April 30). Although the company's revenues and earnings have surpassed consensus estimates, broader economic conditions seem to have put downward pressure on the company's future growth outlook. The increasing adoption of artificial intelligence (AI) and machine learning across industries and functions is undoubtedly a major tailwind for Snowflake.
Fool.com contributor and finance professor Parkev Tatevosian highlights a challenging trend emerging at Snowflake (NYSE: SNOW). *Stock prices used were the afternoon prices of June 1, 2023. The video was published on June 4, 2023.
Shares of data company Snowflake (NYSE: SNOW) jumped 11.7% in May, according to data provided by S&P Global Market Intelligence. During the first few weeks of May, Snowflake stock went up by as much as 24%. Indeed, Stifel analyst Brad Reback upgraded Snowflake stock to a buy rating early in the month, in part citing the rise of generative AI as a business tailwind, according to The Fly.
No-Headquarters/BOZEMAN, Mont., June 05, 2023--Snowflake (NYSE: SNOW), the Data Cloud company, today announced its vast ecosystem will converge at the world's largest data, apps, and AI event, 'Snowflake Summit 2023’ live in Las Vegas, Nevada from June 26-29, 2023. Snowflake Summit 2023 will offer a deeper look at Snowflake’s latest innovations, use cases, and thought leadership across four days and will include an insightful fireside chat on generative AI with Jensen Huang, NVIDIA Founder and C
Artificial intelligence has caught the world by storm, and nearly every business wants to be a part of it.
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Fool.com contributor and finance professor Parkev Tatevosian elaborates on the factors causing Snowflake's (NYSE: SNOW) stock price to fall. *Stock prices used were the afternoon prices of May 31, 2023.
Fool.com contributor and finance professor Parkev Tatevosian highlights huge news that was delivered by Snowflake (NYSE: SNOW) management during its latest conference call. *Stock prices used were the afternoon prices of May 30, 2023.
Investors are trying to weigh the company's rapid growth with the fact that those high growth rates are quickly decelerating. Here's a closer look at Snowflake's business, its growth, and why investors may want to tread carefully when it comes to the company's highly valued stock. In short, there are two big concerns that Snowflake investors should take seriously: the degree to which Snowflake's growth rate is decelerating and management's recent move to significantly lower its full-year revenue guidance.
Snowflake Inc. (SNOW) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Fool.com contributor and finance professor Parkev Tatevosian elaborates on how Amazon (NASDAQ: AMZN) and Snowflake (NYSE: SNOW) have prospects that are correlated. *Stock prices used were the afternoon prices of May 29, 2023.
After reaching hilariously high valuation levels of 180 times sales, the stock price abruptly came down and now sits around $150, well below its debut price of about $245. Furthermore, storing this information is also easier, as a massive data center can hold more information than a personal computer.
Snowflake (NYSE: SNOW) and Cloudflare (NYSE: NET) are both hypergrowth tech stocks that reached their all-time highs in November 2021. The bulls retreated from both hot stocks as their growth cooled off, the macro headwinds intensified, and rising interest rates popped their bubbly valuations. Snowflake and Cloudflare both provide cloud-based services, but they serve completely different markets.
Fool.com contributor and finance professor Parkev Tatevosian evaluates Snowflake's (NYSE: SNOW) prospects over the next year. *Stock prices used were the afternoon prices of May 29, 2023. The video was published on May 31, 2023.
The cloud specialist is down following weak guidance, but investors shouldn't discount its long-term prospects.
The company reshapes the way businesses use data and develop applications, and it's currently breaking new ground in the artificial intelligence (AI) arena. Snowflake stock went public in 2020 with an impressive list of investors, including Berkshire Hathaway, the conglomerate run by Warren Buffett. Investors seem to be concerned about slowing revenue growth, which could get worse given management just reduced its guidance for the full fiscal 2024 year (ending Jan. 31, 2024).
Well, Snowflake's management just lowered its revenue growth guidance and expects the company to grow at its slowest pace ever. However, management's guidance also implies about 28% to 29% year-over-year revenue growth in just the second half of fiscal 2024.
Berkshire Hathaway CEO Warren Buffett might not be the first name you think of when it comes to cutting edge artificial-intelligence (AI) investments. If you're interested in owning AI stocks that have the Berkshire Hathaway seal of approval, read on to see why two Motley Fool contributors believe investing in Snowflake (NYSE: SNOW) and Apple (NASDAQ: AAPL) would be smart moves. Keith Noonan: Snowflake is a provider of big-data analytics tools that have been built from the ground up to power the evolution of machine-learning and AI applications.
Hence, investors may want to treat it as an opportunity to add shares in the software-as-a service (SaaS) stock. However, Snowflake's data cloud is arguably best suited for storing and applying data, and with the rising dependence on AI, this SaaS product has become more critical.
Snowflake's (NYSE: SNOW) stock plunged 17% on May 25 after the cloud-based data warehousing company posted its latest earnings report. For the first quarter of fiscal 2024, which ended on April 30, its revenue rose 48% year over year to $624 million and exceeded analysts' expectations by $15 million.
Snowflake (NYSE: SNOW) downgraded estimates of revenue and profit for the rest of the year as clients tightened budgets. Fool.com contributor and finance professor Parkev Tatevosian discusses whether that's a buying opportunity for Snowflake stock investors.