Name of opportunity: 👀
Snowflake Inc
Exciting predictions: 🔮
Analysts currently have Snowflake rated as a ‘Buy’. Although it’s fallen in value by 34.63% in the last 6 months, analysts think its total revenue could rise 26% to $3.53 billion this year. That’s lower than its previous meteoric growth, but still some solid potential development. The company provides data storage, processing and analytics and their services are designed to be compatible with a range of different cloud platforms, giving them a wide customer base.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Snowflake Inc. will increase from $108.96 to $210.61 in the next 12 months. If you invested $1000, you might profit $884.66, which would be a significant profit! If this 88.47% increase does happen over the next year, Snowflake's current relatively low price could be an exciting opportunity to get in on this stock.
Some analysts (and the company's management) think that increasing AI usage by companies might see them have a larger requirement for data warehouses like Snowflake. Snowflake is already one of the more popular data warehouses on the market. These providers make things easier for companies by stripping away the need for them to have their own data centres, full of expensive hardware and costly to power and run. As of January this year, Snowflake had 9,437 customers.
As of February 2024, Snowflake has a new CEO, Sridhar Ramaswamy, who previously led Google’s advertising division.
Snowflake: ❄️
Snowflake Inc. is a Data Cloud company. The Company’s platform is the technology that powers the Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful business insights, build data applications, and share data and data products. The company’s name was chosen for a few reasons. It’s already a term in the data warehousing field, but also snowflakes are “born in the cloud” - perfect for a cloud computing company! This US company is headquartered in Montana.
Which neme?: 🔍
‘SaaS & Cloud Computing’
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