Snowflake Stock Price Today NYSE: SNOW Quote, Market Cap, Chart

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It’s hard to say, but it’s not hard to imagine many firms may have bought a bit more than they need at this early phase in the AI boom. If there’s a limited supply of a hot commodity, you can be sure that the risk of overbuying may be seen as far less than the risk of being caught empty-handed as competing firms bolster their AI hardware firepower. On its own, new generative AI technologies are impressive, given their potential to transform entire businesses. However, monetization and solid business models may be vital to punching a ticket to the next leg of AI upside. Snowflake CEO Frank Slootman isn’t shying away from his firm’s longer-term AI ambitions.

Amazon’s Big Quarter Drives Gains in Snowflake and Other Cloud Software Stocks

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023. Billionaire investor George Soros loaded up on AI chip makers while dumping stakes of some large cloud software names, according to a Securities and Exchange Commission filing late Friday. Enterprise software stocks have been beaten up badly over the last year. Fears of slowing growth, high valuations, and looming recession have all played a part. Banking services and bank accounts are offered by Jiko Bank, a division of Mid-Central National Bank, Member FDIC.

To see all exchange delays and terms of use please see Barchart’s disclaimer. Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment. Today, Snowflake Inc operates a cloud-based data platform in the United States and does business internationally. The company’s primary product is Data Cloud, a cloud-based suite of tools that allows clients to consolidate data into a single location and facilitates deeper analytical insight and information sharing.

Stock Activity

Securities products offered by Open to the Public Investing are not FDIC insured. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020.

Snowflake Inc. is a cloud-based data storage, computing and analytics company with no official headquarters. The company embraced a non-centralized business model in 2021 but the history is much deeper than that. You can find your newly purchased Snowflake stock in your portfolio—alongside the rest of your stocks, ETFs, crypto, treasuries, and alternative assets. Shares of Snowflake Inc SNOW have been in focus as the company continues to transform from a data warehouse to a data cloud provider. (SNOW) raised $2.2 billion in an initial public offering (IPO) on Wednesday, September 16th 2020. The company issued 28,000,000 shares at $75.00-$85.00 per share.

Financials

These days, investors seem excited about what AI has to offer. However, we don’t see “AI events” or new AI product launches acting as the needle movers as they used to be. DA Davidson analyst Andrew Nowinski initiated coverage on Snowflake with a Buy rating and announced a price target of $200. best virtual trading app india Each of these growth stocks stands to benefit from the rising effectiveness of artificial intelligence. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

• More value-oriented stocks tend to represent financial services, utilities, and energy stocks.
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  provide context on the strength and durability of SNOW’s
  competitive advantage.
• An indication of interest to purchase securities involves no obligation or commitment of any kind.
• The company’s primary product is Data Cloud, a cloud-based suite of tools that allows clients to consolidate data into a single location and facilitates deeper analytical insight and information sharing.

For more information on risks and conflicts of interest, see these disclosures. No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. An indication of interest to purchase securities involves no obligation or commitment of any kind. Its platform supports a range of use cases, including data warehousing, data lakes, data engineering, data science, data application development, and data sharing. The cloud-native architecture consists of three independently scalable layers across storage, compute, and cloud services. The storage layer ingests massive amounts and varieties of structured and semi-structured data to create a unified data record.

Slootman remains “super confident” that it can sort things out as the company works hard to play the long game regarding AI. Impressive capabilities are one thing, but developing an effective business model on top of the technology is another. The company is serious about AI, and it’s more than willing to spend money to improve its footing in the AI race over the coming years. For this reason, I remain incredibly bullish, just like the many analysts praising the name.

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Snowflake (SNOW) Price Target & Analyst Ratings

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The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases without latency. The cloud services layer optimizes each use case’s performance requirements with no administration. Snowflake was founded by Marcin Zukowski, Thierry Cruanes and Benoit Dageville on July 23, 2012 and is headquartered in Bozeman, MT. The Company has developed technology across its platform, including managed service, storage, query capabilities, compute model, data sharing, global infrastructure, and integrated security. The Company also provides frictionless and governed data access so users can securely share data inside and outside of their organizations, generally without copying or moving the underlying data.

Investors sold Snowflake stock after its latest quarterly report, but it would be a good idea to focus on the bigger picture. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%.

In a recent sitdown with CNBC, Slootman acknowledged that spending on AI initiatives will not come cheap and that AI business models need to be established. Snowflake is an up-and-coming player in the artificial intelligence world that’s here to win, according to D.A. https://1investing.in/ ASAPP

NEW YORK, Sept. 11, 2023 (GLOBE NEWSWIRE) — ASAPP , the generative AI company for contact centers, today announced that Frank Slootman, CEO and chairman… Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.

The company believes that data should not be siloed or only available for limited use. On Snowflakes platform, data is governed, which allows users to access 2nd and 3rd party data to gain the deepest insights possible. The platform also operates on the idea of a Data Lake that can be accessed anywhere from anywhere. Among the many benefits of using Snowflake’s one-cloud platform are access, global connectivity, cross-cloud operability and creating new revenue streams for businesses.