Snowflake Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Snowflake Inc. SNOW is expected to release earnings results for its second quarter, after the closing bell on Wednesday, Aug. 21.

Analysts expect the Bozeman, Montana-based company to report quarterly earnings at 16 cents per share, down from 22 cents per share in the year-ago period. Snowflake is projected to report quarterly revenue of $849.7 million, according to data from Benzinga Pro.

On May 22, Snowflake said first-quarter revenue increased 33% year-over-year to $828.7 million, beating the consensus estimate of $785.87 million.

Snowflake shares gained 0.4% to close at $131.92 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.

• Baird analyst William Power maintained an Outperform rating and cut the price target from $200 to $165 on Aug. 20. This analyst has an accuracy rate of 84%.
• Stifel analyst Brad Reback maintained a Buy rating and cut the price target from $200 to $168 on Aug. 19. This analyst has an accuracy rate of 76%.
• UBS analyst Karl Keirstead maintained a Neutral rating and cut the price target from $171 to $155 on Aug. 19. This analyst has an accuracy rate of 75%.
• TD Cowen analyst J. Derrick Wood maintained a Buy rating and slashed the price target from $230 to $180 on Aug. 19. This analyst has an accuracy rate of 74%.
• Barclays analyst Raimo Lenschow maintained an Equal-Weight rating and cut the price target from $191 to $146 on Aug. 19. This analyst has an accuracy rate of 73%.

Considering buying SNOW stock? Here’s what analysts think:

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