Snowflake is expected to report strong Q1 earnings with a growing portfolio and partnerships

From Nasdaq: 2024-05-20 11:59:00

Snowflake is set to report its first-quarter fiscal 2025 results on May 22. Revenue estimate: $786.95 million for 26.19% growth. Earnings estimate: 17 cents per share, up by a penny. Snowflake’s shares have declined 29.7% since last earnings. Snowflake has a Zacks Rank #2 (Buy) with a Growth Score of A and Momentum Score of B.

Despite challenges like inflation, Snowflake’s expanding portfolio is expected to contribute to 22% year-over-year growth. Snowpark anticipated to add 3% to product revenues. Revenues for the first quarter 2025 expected to range between $745 million and $750 million. Snowflake partners with Microsoft, NVIDIA, and Amazon, aiding growth.

Snowflake’s contract with Microsoft facilitates integrations and empowers data scientists. Partnership with NVIDIA enables businesses to utilize data for Generative AI. Expanded collaboration with NVIDIA strengthens AI capabilities. Snowflake’s achievement of FedRAMP high authorization enables handling classified data for the Federal Government. Snowflake added 83 customers in Q4 fiscal year 2024, with a continued growth trend anticipated.

Despite macroeconomic headwinds, Snowflake’s innovative portfolio and expanding partner base enhance its attractiveness to investors. Their growing adoption of solutions like Snowpark significantly boosts prospects. Stay updated with the Zacks Earnings Calendar for upcoming announcements. Snowflake’s strong portfolio and partnerships make it a promising investment opportunity for growth.

Zacks Investment Research suggests Snowflake’s potential to double profits. Snowflake, a little-known chemical company, shows promise with high earnings estimates and share repurchasing. Snowflake’s partnerships with top companies like Amazon, Microsoft, and NVIDIA indicate strong growth prospects. Investors are encouraged to explore Snowflake’s potential for future investments.



Read more at Nasdaq: Should You Buy Snowflake (SNOW) Stock Ahead of Q1 Earnings?