2 Years Ago
2 Min Read

Off goes SNOW. The stock ran up today. Here's what's happening:



Snowflake Inc. (SNOW) is trading 20% higher at $191.37 today. While it's generally been a mildly bullish day for this part of the market, the company is surpassing it's peers in the Information Technology sector.

  • Snowflake reported its quarterly revenues ahead of expectations
  • Mizuho Securities Analyst Gregg Moskowitz reiterated a Buy rating, increasing the price target from $200 to $225
  • Moskowitz: “While our checks on SNOW this quarter were better than the Street’s, we certainly hadn’t expected this degree of upside”
  • Product revenue growth of 83% Y/Y beat analyst's +72% estimate 
  • Fiscal year 2023 guidance "modestly raised and looks beatable" 
  • JMP Securities Analyst Patrick Walraven maintained a Market Outperform ratingand increased the price target from $180 to $215

Snowflake Inc. has been trading between a 52-week high of $405 and a 52-week low of $110.27. The stock has a market cap of $54.4 Billion.

Snowflake Inc. is a cloud computing-based data warehousing company based in San Mateo, California. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode.

Headlines


Restaurants And Bars Could Be A Good Place To Pick Up Potential Investments
Benzinga 08-25-22

US Stocks Open Higher; Dow Rises Over 100 Points
Benzinga 08-25-22

Snowflake Soars on Blockbuster Results -- Is the Stock a Buy?
The Motley Fool 08-25-22

Snowflake shares pop 20% following revenue beat
CNBC 08-25-22

Why Snowflake Stock Is Soaring Today
Benzinga 08-25-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

PerformerNo4354 - 15 upvotes - source
I opted out of my nord puts last minute, SOLD my snow calls before close and went all in on CRM calls. I couldn’t have done it any better

PerformerNo4354 - 11 upvotes - source
Just gonna reiterate, I wish I bought snow calls

Uber_Peasant - 10 upvotes - source
Of course SNOW was the play since I didn't have any calls ![img](emote|t5_2th52|8883)

sc2summerloud - 10 upvotes - source
selling naked calls on SNOW was not my best move yesterday in retrospect...

scrafter54 - 9 upvotes - source
SNOW rn ⢀⡴⠑⡄⠀⠀⠀⠀⠀⠀⠀⣀⣀⣤⣤⣤⣀⡀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠸⡇⠀⠿⡀⠀⠀⠀⣀⡴⢿⣿⣿⣿⣿⣿⣿⣿⣷⣦⡀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠑⢄⣠⠾⠁⣀⣄⡈⠙⣿⣿⣿⣿⣿⣿⣿⣿⣆⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⢀⡀⠁⠀⠀⠈⠙⠛⠂⠈⣿⣿⣿⣿⣿⠿⡿⢿⣆⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⢀⡾⣁⣀⠀⠴⠂⠙⣗⡀⠀⢻⣿⣿⠭⢤⣴⣦⣤⣹⠀⠀⠀⢀⢴⣶⣆ ⠀⠀⢀⣾⣿⣿⣿⣷⣮⣽⣾⣿⣥⣴⣿⣿⡿⢂⠔⢚⡿⢿⣿⣦⣴⣾⠁⠸⣼⡿ ⠀⢀⡞⠁⠙⠻⠿⠟⠉⠀⠛⢹⣿⣿⣿⣿⣿⣌⢤⣼⣿⣾⣿⡟⠉⠀⠀⠀⠀⠀ ⠀⣾⣷⣶⠇⠀⠀⣤⣄⣀⡀⠈⠻⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡇⠀⠀⠀⠀⠀⠀ ⠀⠉⠈⠉⠀⠀⢦⡈⢻⣿⣿⣿⣶⣶⣶⣶⣤⣽⡹⣿⣿⣿⣿⡇⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠉⠲⣽⡻⢿⣿⣿⣿⣿⣿⣿⣷⣜⣿⣿⣿⡇⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⢸⣿⣿⣷⣶⣮⣭⣽⣿⣿⣿⣿⣿⣿⣿⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⣀⣀⣈⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠇⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⢿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠃⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠹⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡿⠟⠁⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠉⠛⠻⠿⠿⠿⠿⠛⠉

looseinsteadoflose - 7 upvotes - source
Boomers and Gen X'ers who went to college back when you could pay tuition working at a snow cone stand are absolutely furious about this student loan forgiveness

penetrasjon - 7 upvotes - source
Idk how SNOW is almost 200 a share. That company is peak retardation with that market cap. That said, I lost 3k on it overnight 💀😭

Anonymous231478 - 6 upvotes - source
Sick to my stomach watching SNOW skyrocket and NVDA hardly drop when I go in for a strangle on NVDA at the closing bell and didn’t have the balls to put a call on SNOW

heathermyllz - 6 upvotes - source
SNOW now trading at a 16,000x p/e

lostindasauces - 6 upvotes - source
Healthy markets make 20%+ moves in one day of trading. Thanks snow 😘