"Snowflake ( NYSE:SNOW) stock had a glorious, more-than-20% single-day melt-up when it delivered an incredible blowout number. Indeed, it was one of the best quarters in recent memory for the data cloud firm as new CEO Sridhar Ramaswamy delivered not only a top- and bottom-line beat, but also shed light on the firm's role as an AI enabler in this ongoing technological revolution."
"Undoubtedly, shares of Snowflake don't look cheap. They never have. However, with the fresh revenue guidance hike for its fiscal year 2026, and more bullish analysts stepping forward, I do think that SNOW stock is starting to look like one of the next big momentum trades to get behind as AI investors look past the semiconductors and to the AI cloud."
Snowflake delivered an exceptional quarter that produced a more-than-20% single-day stock surge after a blowout performance. New CEO Sridhar Ramaswamy achieved both top- and bottom-line beats and framed Snowflake as an AI enabler amid accelerating demand for data and AI infrastructure. Second-quarter revenue grew nearly 32%, and management raised fiscal 2026 revenue guidance. Analysts turned more bullish, positioning Snowflake as a potential momentum stock within the AI cloud ecosystem despite historically high valuations. A modest post-earnings pullback created a perceived buying opportunity, though chasing rapid post-earnings pops carries risk for value-oriented investors.
Read at 24/7 Wall St.
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