Snowflake Inc. shares decreased by 0.68% recently after a previous increase of 6.56%. The stock has risen 63% since hitting a low in April, leading to a year-to-date gain of 34.75%. In Q1 earnings, Snowflake reported revenue exceeding $1 billion, fulfilling expectations. Analyst Sanjit Singh from Morgan Stanley has a bullish outlook on the company, citing enhancement under CEO Sridhar Ramaswamy and potential for 20% annual growth through 2030 due to market expansion and AI innovations. The cloud computing industry is projected to grow significantly through 2030.
Snowflake's quarterly revenue topped $1 billion for the first time, reaching $1.04 billion, indicating significant growth in cloud-based storage solutions.
Morgan Stanley analyst Sanjit Singh believes Snowflake has improved under new CEO Sridhar Ramaswamy, predicting AI will drive growth with a target of 20% annually through 2030.
Collection
[
|
...
]