Snowflake Inc. is a cloud-based data warehousing company that provides a platform allowing businesses to store and analyze large amounts of data
By leveraging the power of the cloud, Snowflake enables organizations to access, manage, and derive insights from their data in real-time, facilitating data collaboration across multiple departments. Its innovative architecture allows for seamless scaling, enhanced security, and a user-friendly interface, making it an attractive solution for enterprises looking to harness the power of their data for better decision-making and operational efficiencies. Snowflake supports diverse data workloads and integrates easily with various data tools and applications, positioning itself as a leader in the data analytics space.
Investors have been cautious about high-growth technology stocks in 2024, with broader market uncertainty and concerns over President Donald Trump’s tariff policies putting pressure on valuations.
Snowflake (NYSESNOW), the AI Data Cloud company, today announced that Mike Gannon is joining the company as Chief Revenue Officer, effective March 14, 2025. In his new role, Gannon will be responsible for Snowflake’s revenue and go-to-market teams, helping to lead Snowflake through its next chapter of growth. Chris Degnan, Snowflake’s current CRO, has decided to retire.
Snowflake (NYSESNOW), the AI Data Cloud company, will host its seventh-annual user conference, Snowflake Summit 2025, live in San Francisco from June 2-5, 2025. Snowflake Summit 2025 is bringing the future of AI and data to the center stage, with this year’s opening keynote featuring OpenAI CEO Sam Altman, and Snowflake CEO Sridhar Ramaswamy, for a fireside chat on Monday, June 2 at 5:00 p.m. PDT. The conversation will explore how organizations can drive immediate impact with the power of data and AI. As the premier conference for data, AI, and applications, Snowflake Summit 2025 empowers enterprises to unlock real business value with AI innovation. Attendees will explore groundbreaking applications shaping the new era of data gravity and discover the latest innovations transforming their data architectures.
Shares of data warehouse-as-a-service Snowflake (NYSESNOW)
jumped 13.5% in the pre-market session after the company reported impressive fourth-quarter results that beat analysts' revenue expectations. Product revenue, which accounts for most of the company's sales, grew 28% and benefited from strong customer adoption and a 126% net revenue retention rate, with several large customers exceeding their commitments.
According to TheFly, at least 13 brokerages lifted their price targets on the stock. Cantor Fitzgerald set the highest target at $228, up from $201, while maintaining an 'Overweight' rating.
Snowflake now has over 11,000 customers, and 580 of those have contributed to more than $1 million in revenue each on a trailing 12-month basis, according to the company.
The S&P 500 and Nasdaq both slipped into the red, reversing early gains on Thursday, while the Dow Jones remained in positive territory in midday trading.
Snowflake (NYSESNOW), the AI Data Cloud company, today announced that it is deepening its investments in AI innovation by opening the Silicon Valley AI Hub, a home for developers, startups and business leaders to learn, deepen relationships, and shape the future of AI.
