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MarketScreener Homepage  >  Equities  >  Nyse  >  Snowflake Inc.    SNOW

SNOWFLAKE INC.

(SNOW)
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Snowflake : Shares Up After 3Q Results

12/03/2020 | 12:41pm EST

By Michael Dabaie

Snowflake Inc. shares were up 14% to $334.16 around midday.

The provider of cloud data warehousing software Wednesday after the market close reported third-quarter total revenue was $159.6 million, up from $73 million a year earlier. FactSet consensus was for $147.7 million.

Product revenue was $148.5 million, which the company said was up 115% year-over-year. FactSet consensus was for $136.6 million.

Loss was $168.9 million, wider than a year earlier loss of $88.1 million.

Loss per share was $1.01, versus a loss of $1.92 in the year-ago period. Weighted-average shares were about 166 million, from about 46 million a year earlier.

Snowflake had its initial public offering in September and had an IPO pricing at $120.

"We are pleased with our performance this first quarter as a public company," said Chief Executive Frank Slootman. "The period was marked by continued strong revenue growth coupled with improving unit economics, cash flow, and operating efficiencies."

Snowflake guided for fourth-quarter product revenue of $162 million to $167 million and fiscal-year product revenue of $538 million to $543 million.

J.P. Morgan said in a note that Snowflake posted a healthy third quarter with product revenue exceeding its forecast. "The combination of growth and scale remains elite as it is remarkable to see this revenue stream approach a $600M annual run-rate with triple-digit growth," J.P. Morgan said in its note.

J.P. Morgan boosted its price target to $250 from $247 and rates the stock at Neutral.

"Snowflake could grow into and beyond the current valuation in future years, but it is difficult to see material outperformance within the horizon of our price target," J.P. Morgan said in its note.

Mizuho Securities USA said that fourth-quarter guidance was "roughly in line, but we believe it will likely prove conservative."

"We maintain that SNOW is enabling customers to transform from large data stores to data-driven organizations, and that companies will increasingly standardize on SNOW. Although SNOW already trades at a substantial premium, we believe the shares can go higher as the company continues to grow at elevated rate" over the next twelve months and beyond. Mizuho reiterated its Buy rating and boosted its price target to $310 from $300.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

12-03-20 1240ET

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Financials (USD)
Sales 2021 580 M - -
Net income 2021 -462 M - -
Net cash 2021 4 417 M - -
P/E ratio 2021 -145x
Yield 2021 -
Capitalization 79 545 M 79 545 M -
EV / Sales 2021 130x
EV / Sales 2022 68,6x
Nbr of Employees 2 253
Free-Float 9,84%
Chart SNOWFLAKE INC.
Duration : Period :
Snowflake Inc. Technical Analysis Chart | SNOW | US8334451098 | MarketScreener
Technical analysis trends SNOWFLAKE INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 309,61 $
Last Close Price 280,98 $
Spread / Highest target 83,3%
Spread / Average Target 10,2%
Spread / Lowest Target -11,0%
EPS Revisions
Managers and Directors
NameTitle
Frank Slootman Chairman & Chief Executive Officer
Michael P. Scarpelli Chief Financial Officer
Thierry Cruanes Chief Technology Officer & Director
John L. Walecka Director
Mike L. Speiser Director
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