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If the company already had plenty of money, why did it need more?
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Snowflake (SNOW) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Snowflake stock underperformed the market significantly in 2024.
During the second quarter, Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) announced an update to its portfolio, with its transaction involving data cloud company Snowflake (NYSE: SNOW) standing out.
During the second quarter, Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) announced an update to its portfolio, with its transaction involving data cloud company Snowflake (NYSE: SNOW) standing out.
After its latest slide, I'm upgrading Snowflake to a buy rating, with a $154 price target (~35% upside from current levels). SNOW has hit a very opportune valuation at
Analysts have good reasons to like this stock -- and Buffett had a good reason to sell it.
Snowflake is facing budget competition from GenAI, leading to a ~40% stock decline, prompting a $2.5B share buyback and $2.3B convertible senior notes issuance. The zero-coupon convertible bonds, maturing in 2027 and 2029, offer cheap liquidity and minimal dilution, contingent on a +40% stock rally from $112.50. Snowflake aims to use the bond proceeds for share buybacks and strategic acquisitions, enhancing its competitive edge and product innovation in the GenAI space.
A hot jobs report combined with still-dovish Fedspeak lifted the rate-sensitive software sector.