Stocks were mixed this morning after another record-breaking day for the major averages. In yesterday’s session, the S&P added 0.9% to close above 4,700 for the first time. The Dow and the Nasdaq also ticked up to post record closes.
Today’s stock pick has climbed 20% since we issued our most recent call to buy the stock on September 3rd. Since we published our first pick dedicated to this stock on April 23rd, the share price has gained nearly 60%. Momentum is building, and there seems to be plenty of runway ahead for this one, so we decided to raise the issue once more for anyone who missed out or has been waiting on the sidelines.
Palm Beach Group:
Teeka: “Buy this Ticker ASAP” – DONT USE.
With experts projecting gains as high as 1,530% by the end of this year… Anyone who doesn’t buy this ticker will most likely regret it later. Even Forbes has confirmed that when all is said and done, “a new class of millionaires may emerge.” Unfortunately, a recent study shows that only 3% of retirees have invested in this opportunity. That means most people will miss out. Don’t be one of them. Click here and get the ticker now… no strings attached. [REVEAL TICKER]
Snowflake provides cloud-based ways for companies to better utilize their data over the internet. The company offers cloud-based data storage and analytics, generally termed “data-as-a-service.” Snowflake’s platform offers Data Cloud, an entire ecosystem that enables customers to consolidate and share data. And now they are offering a tailored version of their Data Cloud, explicitly aimed at the media and advertising industry.
Snowflake’s Media Data Cloud is a recent addition to their offering that enables organizations to be successful in the new advertising landscape by empowering them to easily access and collaborate on data without ever leaving Snowflake’s environment. The Data Cloud includes data clean rooms that enable any publisher, advertiser, agency, or ad tech organization to design their own privacy and collaborative data environment. This element was previously reserved for larger technology platforms.
“The Snowflake Media Data Cloud will fuel the next wave of innovation in the advertising ecosystem. Snowflake is uniquely positioned to enable data connectivity and collaboration in a privacy-compliant manner for transparent and secure advertising capabilities. Our customers and partners are able to execute this type of collaboration for identity, targeting, and measurement while also maintaining important privacy and governance,” said Bill Stratton, the Global Head of Media, Entertainment and Advertising Vertical at Snowflake. “Businesses with democratized data access, seamless collaboration, and the highest standards of data governance will now be leading our industry into a future built on transparency, trust, and performance.”
The stock has received multiple upgrades and price target increases recently. JMP Securities raised their price target for SNOW on the company’s high growth potential compared to peers. After conducting a series of field checks, BTIG analyst Gary Powell upgraded SNOW to Buy from Neutral. After a deeper investigation on spending trends with Snowflake and the broader competitive environment, Powell believes Snowflake is “sitting in front of a huge opportunity in a rapidly growing data analytics software market.” the analyst thinks the company has” multiple competitive advantages” over its cloud service provider competitors.
It is not just media and advertising that’s driving business for SNOW. Every company on the planet is chasing the cloud right now. Amid the ongoing digital transformation of almost every industry, the need for safe and efficient cloud platforms should drive the cloud industry’s growth. The cloud computing market is expected to grow at an 18% CAGR to $303.07 billion by 2025.
SNOW’s revenues for its fiscal second quarter, which ended July 31st, 2021, increased 104.4% year-over-year to $272.20 million. The company’s gross profit came in at $189.75 million, up 125.4% from the prior-year period. Its operating loss declined 62.4% year-over-year to $21.90 million. While its net loss increased 144.4% year-over-year to $189.72 million, its loss per share decreased 51.1% year-over-year to $0.64. As of July 31st, 2021, the company had $698.55 million in cash and cash equivalents. Snowflake will be looking to display strength during its next quarterly earnings call, slated for December 1st.
Where to invest $1,000 right now...
Before you consider buying Snowflake, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Snowflake.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Legend Who Bought Apple at $1.42 Says Buy TaaS Now
It’s called TaaS – and if you haven’t yet heard of this technological breakthrough, you soon will. [Full Story…]