Snowflake Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Snowflake Inc. SNOW is expected to release earnings results for its fourth quarter, after the closing bell on Feb. 28, 2024.

Analysts expect the company to report quarterly earnings at 18 cents per share, up from year-ago earnings of 14 cents per share. The company is projected to post revenue of $759.1 million for the latest quarter, compared to $589.01 million in the year-earlier quarter, according to data from Benzinga Pro.

Snowflake, during November, said third-quarter revenue increased 32% year-over-year to $734.17 million, which beat the consensus estimate of $712.78 million. The company reported quarterly earnings of 25 cents per share, which beat analyst estimates of 16 cents per share.

Snowflake shares gained 1.3% to close at $234.03 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Tyler Radke maintained a Buy rating and boosted the price target from $255 to $290 on Feb. 27, 2024. This analyst has an accuracy rate of 74%.
• UBS analyst Karl Keirstead maintained a Neutral rating and raised the price target from $185 to $225 on Feb. 22, 2024. This analyst has an accuracy rate of 77%.
• Needham analyst Mike Cikos maintained a Buy rating and raised the price target from $225 to $265 on Feb. 21, 2024. This analyst has an accuracy rate of 83%.
• Barclays analyst Raimo Lenschow downgraded the stock from Overweight to Equal-Weight witha price target of $198 on Jan. 12, 2024. This analyst has an accuracy rate of 77%.
• Piper Sandler analyst Brent Bracelin maintained an Overweight rating and boosted the price target from $220 to $250 on Jan. 2, 2024. This analyst has an accuracy rate of 77%.

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