Snowflake surges almost 13% following strong sales and outlook

Olemedia/E+ via Getty Images

• Snowflake (NYSE:SNOW) shares climbed almost 13% in after-hours trading, Wednesday, as the cloud-based data-management company reported better-than-expected third-quarter results and forecast stronger sales ahead.
• Snowflake (SNOW) said that it lost 51 cents a share, on revenue of $334.4 million, for the quarter ending Oct. 31. During the same period a year ago, the company lost $1.01 a share on $159.6 million in sales. Wall Street analysts had forecast Snowflake (SNOW) to lose 61 cents a share on revenue of $306.1 million.
• The company said business was helped by product sales of $312.5 million, and which rose 110% from the year-ago period. Snowflake said it now has 5,416 total customers, with 148 of those having more than $1 million in product revenue in the trailing 12 months.
• Snowflake (SNOW) is expecting even better days ahead, and it forecast fourth-quarter product revenue of $345 million to $350 million, or nearly double that of the year-ago quarter.
• Last month, Snowflake (SNOW) attracted some attention when it said it had joined Intel's (NASDAQ:INTC) Disruptor Initiative Program.

Comments

[hansrichtig]

“Strong” sales - lol

[AI STONKS]

Tough environment for these types right now. No clue if this holds today. Long this stock but could still have another leg down, and despite great earnings.

[J2.0]

I really like snow, but there is to much growth priced in. Looking for an entrypoint at lower levels.

[YaYaHero]

@J2.0 you just missed it this week. Instead of waiting, start a position and average in if price drops.

[Pjs4]

@YaYaHero Wait, you’re saying you can’t time the stock market?

[User 50124969]

Intel should benefit from this. Snowflake and Intel partnered up.

"Intel welcomes Snowflake to the Intel® Disruptor Initiative Program. Working together, Intel and Snowflake provide customers with performance and increased flexibility across multiple public clouds with Snowflake’s Data Cloud using Intel® Xeon® Scalable processors and Intel Xeon-based cloud instances."

www.intel.com/...

[Herbert +H-Dog+ Kornfeld]

@Hellraiser how hilarious is it that Snowflake has 1/2 the market cap of Intel, with 1/100th of the sales of Intel

[Tparkervb]

@Herbert +H-Dog+ Kornfeld comparing the growth trajectories between those 2 companies is hilarious

[ZeissGirls]

@Herbert +H-Dog+ Kornfeld AMD also

[grewalg87]

I sold this stock at $400, where it double topped, and won't touch it again, until valuation comes in a bit.

[SomeGuy14]

Good luck buying into a bubble stuck mid bubble pop.

The fact that it only lost half as much as it lost last year isn’t exactly enthralling

[Cristi_an]

in today’s market conditions, that +13% will translate in -10% tomorrow eod

[Critilyst]

@Cristi_an let's hope so! 😁
This is trading at an insane 100x!

[kymnewbie]

Whoot whoot!! After day like today nice to see good news..especially since I have Palantir and SNOW. Have confidence in both in long term.

[bmagnate]

PLTR is having better results than Snowflake but that stock is getting crushed. Reason PLTR is directly listed without any benefit to Wallstreet

[Off His Game]

@bmagnate PLTR isn't having 'better' results. PLTR is completely different than SNOW.

[AI STONKS]

@bmagnate I mean sure.. if you believe that. What you think and reality are completely different however.

[Raysab]

@bmagnate LMAO, people still comparing both because they listed in the same day SNOW and PLTR are totally different businesses

[ddeatkine]

looks like a few on the short side melted a little. Whatever happens tomorrow, SNOW has some staying power.

[magenta17]

Excellent quarter! Slootman and company executed well! Longz SNOW! :-)

[TigerCub911]

It will be funny if $SNOW selloffs tomorrow along with the market being down another 1-2% tomorrow.

[Pjs4]

@TigerCub911 So short it

[str8_chuter]

"Snowflake surges almost 13% following strong sales and outlook"

Will melt by morning.

[Pjs4]

@str8_chuter str8_wrong

[rasplay1]

At least i know what to short tomorrow lol

[Herbert +H-Dog+ Kornfeld]

most over-valued stock in an over-valued market

[BigBoeing]

@Herbert +H-Dog+ Kornfeld WRONG. Go look at NET.