Snowflake Stock: Acceleration In Product Innovation Brings The Company To Forefront Of AI
==========
Snowflake Inc. (SNOW) beat expectations on both the top and bottom-line this quarter, with its core business remaining strong. The new CEO, Sridhar Ramaswamy, has prioritized customer engagement, execution, and product innovation. Snowflake has seen an acceleration in product innovation, with multiple new features to be available in the second half of the year. The number of customers contributing more than $1 million in product revenue grew 30% from the prior year. Snowflake raised its product revenue guidance for FY2025 and lowered margin guidance due to investment in AI. The company has $4.5 billion in cash and investments on its balance sheet. Snowflake expects product revenues between $805 million and $810 million for FY2Q25. The company is investing in AI initiatives and plans to acquire technology assets and hire key employees from Truera. Snowflake's new CEO is focused on driving execution, customer engagement, and product delivery. The company is on track to bring enterprise AI to its customers and accelerate innovation. Snowflake's net retention rate for FY1Q25 was 128%. The company has seen impressive growth in the number of customers contributing more than $1 million in product revenue. Snowflake has been hiring aggressively to accelerate product innovation. The recent cyber threat attack did not impact the company's systems, but Snowflake plans to enforce multi-factor authentication for all customers. The author reiterates an intrinsic value of $229 for Snowflake and maintains a 1-year price target of $245 and a 3-year price target of $346. Snowflake's recent results and product innovation indicate a positive outlook, although there are near-term risks related to AI investments and the cyber threat attack.
#Snowflake #Ai #ProductInnovation #RevenueGuidance #MarginGuidance #CustomerGrowth #Ceo #Investment #CyberThreatAttack
https://seekingalpha.com/article/4700069-snowflake-acceleration-in-product-innovation-brings-company-to-forefront-of-ai
Seeking Alpha /
npub1qpf…damf
2024-06-20 08:22:28
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfSeen on
wss://relay.noswhere.comPublished at
2024-06-20 08:22:28Event JSON
{
"id": "20d6e6010bb737fe81ef2853ceb8e528857c1fddabb9d64db825e08822f7327d",
"pubkey": "005235dd784e90740f6e4b2b402547ef6a605bd10a27b749a9e0b2717d5f5627",
"created_at": 1718864548,
"kind": 1,
"tags": [],
"content": "Snowflake Stock: Acceleration In Product Innovation Brings The Company To Forefront Of AI\n==========\n\nSnowflake Inc. (SNOW) beat expectations on both the top and bottom-line this quarter, with its core business remaining strong. The new CEO, Sridhar Ramaswamy, has prioritized customer engagement, execution, and product innovation. Snowflake has seen an acceleration in product innovation, with multiple new features to be available in the second half of the year. The number of customers contributing more than $1 million in product revenue grew 30% from the prior year. Snowflake raised its product revenue guidance for FY2025 and lowered margin guidance due to investment in AI. The company has $4.5 billion in cash and investments on its balance sheet. Snowflake expects product revenues between $805 million and $810 million for FY2Q25. The company is investing in AI initiatives and plans to acquire technology assets and hire key employees from Truera. Snowflake's new CEO is focused on driving execution, customer engagement, and product delivery. The company is on track to bring enterprise AI to its customers and accelerate innovation. Snowflake's net retention rate for FY1Q25 was 128%. The company has seen impressive growth in the number of customers contributing more than $1 million in product revenue. Snowflake has been hiring aggressively to accelerate product innovation. The recent cyber threat attack did not impact the company's systems, but Snowflake plans to enforce multi-factor authentication for all customers. The author reiterates an intrinsic value of $229 for Snowflake and maintains a 1-year price target of $245 and a 3-year price target of $346. Snowflake's recent results and product innovation indicate a positive outlook, although there are near-term risks related to AI investments and the cyber threat attack.\n\n#Snowflake #Ai #ProductInnovation #RevenueGuidance #MarginGuidance #CustomerGrowth #Ceo #Investment #CyberThreatAttack\n\nhttps://seekingalpha.com/article/4700069-snowflake-acceleration-in-product-innovation-brings-company-to-forefront-of-ai",
"sig": "cf7a2dd2f4b4ecf3995acb353eff50cea9bafca22295947771b294ffeb8c56235c695a3341ff3226c415b9cd144da9457068552a0904b0c999aca091971c67fa"
}