Over the last 3 months, EPS estimates have seen 23 upward revisions and 0 downward. Revenue estimates have seen 21 upward revisions and 0 downward.
For Q4, the company indicated product revenue of $345 - $350M (+94 to 96% Y.Y); operating income of 1%.
Gaining customers like Allianz, BlackRock, Capital One, New York Stock Exchange and Western Union are likely to benefir Snowflake's earnings.
Utilizing TipRanks' new online tool, Snowflake's overall projected visits to the website increased in Q4; total projected worldwide visits to snowflake.com increased by 9.5% sequentially.
Ahead of its earnings, Cowen reaffirmed its outperform rating however cut its price target as the sector is seeing lower earnings multiples, but Snowflake still deserves a "high premium" given its growth and margin profile.
In early February, Morgan Stanley upgraded the company noting its core business is "outperforming," while adding its expansion opportunities are "gaining steam."
Out of the total 29 Wall Street Analysts, 15 analysts have assigned a Strong Buy rating while Buy and Hold rating stands at 6 and 8 respectively.