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Snowflake shares surged 19% in after-hours trading following a strong fiscal third-quarter report, with earnings per share of 20 cents and revenue of $942 million, both surpassing expectations. The company reported a net loss of $324.3 million but projected a 29% growth in product revenue for fiscal 2025, alongside a focus on cost-saving measures. Snowflake also announced a partnership with AI startup Anthropic and the acquisition of Datavolo.
Snowflake Inc. saw its stock rise in after-hours trading following a stronger-than-expected sales outlook, indicating positive customer reception for its new products. The company projected product revenue between $906 million and $911 million for the period ending in January, surpassing analysts' expectations of $890.7 million. Additionally, the adjusted operating margin is anticipated to be around 4%, significantly higher than the expected 1.7%.
Treasury4, a Spokane-based fintech, has joined the JP Morgan Payments Partner Network, enhancing its offerings for high-growth technology companies. The integration facilitates easier treasury management and data connectivity for clients, allowing them to create customized analytics and reports using a new platform built on Snowflake and Sigma Computing. With over $23 million in funding, Treasury4 continues to innovate its cash flow and entity management solutions, addressing gaps in existing treasury software.
The enterprise landscape is rapidly shifting towards open source large language models (LLMs), driven by the need for control, customization, and cost efficiency. Major companies like Salesforce and Oracle are integrating open models, reflecting a growing preference for flexibility and reduced vendor lock-in. As costs for LLM deployment plummet, open source solutions are expected to dominate, paralleling historical trends in operating systems and software development.
UBS upgraded Datadog to Buy, citing improved IT spending and strong cloud infrastructure prospects. Analysts project a 26% revenue growth for 2025, above the consensus of 23%, and noted Datadog's evolving pricing strategy. The firm raised its price target from $125 to $150, reflecting a valuation of 12.3x 2026 revenue estimates.
UBS upgraded Datadog to Buy from Neutral, citing improved IT spending and strong cloud infrastructure prospects. The firm projects Datadog's revenue growth could reach 26% by 2025, above the consensus of 23%, and raised its price target from $125 to $150, reflecting a valuation of 12.3x 2026 revenue estimates. Despite mixed feedback on third-quarter results, Datadog is seen as a share gainer in the observability space, with a positive outlook for cloud usage stocks.
UBS upgraded Datadog to Buy from Neutral, citing improved IT spending and strong cloud infrastructure prospects. The firm projects Datadog's revenue growth could reach 26% in 2025, above the consensus of 23%, and raised its price target from $125 to $150, reflecting a valuation of 12.3x 2026 revenue estimates. Despite mixed feedback on third-quarter results, Datadog is seen as a share gainer in the observability space, with a positive outlook for cloud usage stocks.
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wflake shares surge 19 percent on strong earnings and revenue growth
22:23 20.11.2024
wflake stock rises on strong sales outlook and product reception
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