Snowflake fall following’s ambitious investor day goal

© Shutterstock

Direndra Tripati – Snowflake (NYSE :) shares fell almost 4% before the market on Friday after offering investors an ambitious long-term goal.

On Thursday’s Investor Day, the company planned to achieve $ 10 billion in product revenue by the end of 2028. This is a sharp increase from $ 554 million in 2021 and the long-term operating margin target is 10%.

“The new product revenue guide emphasizes management’s confidence in their ability to continue to grow at a high rate over the years. In addition, this long-term guide does not include this week’s product launch. It’s important to be careful. ” Mizuho According to StreetInsider, (NYSE :) Greg Moskowitz said in a memo.

Moskowitz added that investors might have wanted even more, as stock prices remained bullish.

That said, stock prices rose 30% last month, and investors may have wanted to deposit their profits in banks.

Oppenheimer (NYSE :) analyst Ittai Kidron is also positive about the direction and growth prospects of the company’s platform. He has an outperform rating with a price target of $ 320 per share, a premium of almost 30% against Thursday’s closing price of $ 248.80.

Disclaimer: Fusion media Recall that the data contained on this website is neither real-time nor accurate. All CFDs (stocks, indexes, futures) and forex prices are offered by market makers, not exchanges, so prices may not be accurate and may differ from actual market prices. In other words, price is an indicator and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses that may occur as a result of using this data.

Fusion media Alternatively, Fusion Media stakeholders shall not be liable for any loss or damage resulting from their reliance on information, including data, quotes, charts, and trading signals contained on this website. Familiarize yourself with the risks and costs associated with trading in financial markets. This is one of the most risky forms of investment possible.

Snowflake fall following’s ambitious investor day goal

Source link Snowflake fall following’s ambitious investor day goal

Related Articles

Back to top button