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SNOW-SNOWFLAKE INC

Snowflake Shares Soar 32% After Strong Q3 Earnings and Raised Revenue Outlook Amidst Competitive Challenges

Friday

29 November, 2024

Snowflake's recent third-quarter earnings reveal a remarkable 28% revenue growth, propelling shares up 32% as the company raises its revenue outlook amidst competitive pressures. Can Snowflake sustain this momentum and navigate the challenges ahead in the evolving tech landscape?

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Key Takeaways
  • Snowflake's third-quarter results show a 28% increase in revenue, highlighting strong growth potential.
  • Strategic alliances with Microsoft and ServiceNow boost Snowflake's market presence and innovation capabilities.
  • The company's emphasis on artificial intelligence enhances its competitive advantage in the tech industry.
  • Analysts predict a median price target of $169, indicating substantial upside despite recent challenges.
  • An increased full-year product revenue forecast suggests a resilient recovery trajectory for Snowflake.
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