Shares of cloud provider Snowflake (NYSE:SNOW) rose in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2024. Earnings per share came in at $0.22, which beat analysts’ consensus estimate of $0.10 per share. Sales increased by 35.5% year-over-year, with revenue hitting $674.02 million. This beat analysts’ expectations by $11.74 million.
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Looking forward, management now expects revenue for Q3 2024 to be in the range of $670 million to $675 million, with an operating income margin of 4%.
What is the Future Price of SNOW Stock?
Overall, Wall Street has a consensus price target of $189.82 on SNOW stock, implying 21.91% upside potential, as indicated by the graphic above.