Snowflake is expected to release earnings on Wednesday after the market closes for the 2024 fiscal year second quarter.
Snowflake, Inc. SNOW is expected to release earnings on Wednesday after the market closes for the 2024 fiscal year second quarter.
The Details: Analysts estimate earnings per share of 16 cents and revenue of $851.16 million.
What Else: Last Thursday, Snowflake stock fell after Berkshire Hathaway filed a Form 13F with the Securities and Exchange Commission. The form showed that Berkshire had sold its stock in the company. Berkshire held 6.1 million shares in Snowflake at the end of the first quarter.
Analyst Changes: Multiple analysts have issued price target adjustments recently.
- Rosenblatt analyst Blair Abernethy maintained a Buy rating on Snowflake and maintained a $195 price target.
- Barclays analyst Raimo Lenschow maintained an Equal-Weight rating on Snowflake and lowered the price target from $191 to $146.
- TD Cowen analyst J. Derrick Wood maintained a Buy rating on Snowflake and lowered the price target from $230 to $180.
- UBS analyst Karl Keirstead maintained a Neutral rating on Snowflake and lowered the price target from $171 to $155.
- Evercore ISI Group analyst Kirk Materne maintained am Outperform rating on Snowflake and lowered the price target from $225 to $170.
How To Buy Snowflake Shares
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange-traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Snowflake's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
SNOW Price Action: At the time of writing, Snowflake stock is moving 3.52% higher at $132.55 per data from Benzinga Pro.
Image: Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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