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Category: Snowflake (SNOW)
Date: 16 September 2020 Stock price of Snowflake (predicted trading price): $120 Stock price of Snowflake: $253.93 (last traded price) We take a look at the news that Snowflake the cloud computing firm is listing today. And based on the number of shares and expected trading price of $120 the company is valued at over $30 billion.
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Snowflake provides the near-unlimited scale, concurrency, and performance our customers in a variety of industries want, while delivering a single data experience that spans multiple clouds and geographies "
More About Snowflake (SNOW)
Snowflake's founders started from scratch and built a data platform that would harness the immense power of the cloud. Thousands of customers around the world now mobilize their data in ways previously unimaginable with Snowflake's cloud data platform — a solution for data warehousing, data lakes, data engineering, data science, data application development, and data exchange. Snowflake provides the near-unlimited scale, concurrency, and performance our customers in a variety of industries want, while delivering a single data experience that spans multiple clouds and geographies. But our founder's vision didn't stop there. Our cloud data platform is also the engine that drives the Data Cloud — the global ecosystem where thousands of organizations have seamless and governed access to explore, share, and unlock the potential of data.
Stocknews.com coverage of Snowflake listing
This week’s Snowflake (SNOW - Get Rating) IPO is generating tremendous amounts of enthusiasm among investors. It already has several high-profile backers. Warren Buffett has invested nearly $500 million, while Salesforce.com (CRM) is buying another $250 million.
The expected price range for Snowflake has increased to $100 to $110 from $70 to $80 due to higher than expected demand. It’s planning to offer 23 million shares and hopes to raise over $3 billion.
Snowflake is only five years old but already is projected to have $800 million in revenue over the next 12 months. It provides a turnkey, cloud-based database solution for companies. It’s serving an important need by helping companies pull insights and build applications out of the massive amounts of data generated by their various business units.
Read full article here
The expected price range for Snowflake has increased to $100 to $110 from $70 to $80 due to higher than expected demand. It’s planning to offer 23 million shares and hopes to raise over $3 billion.
Snowflake is only five years old but already is projected to have $800 million in revenue over the next 12 months. It provides a turnkey, cloud-based database solution for companies. It’s serving an important need by helping companies pull insights and build applications out of the massive amounts of data generated by their various business units.
Read full article here
Barrons coverage of Snowflake listing
The cloud software company Snowflake Tuesday afternoon priced an offering of 28 million shares at $120 a share, according to a person familiar with the situation, above the recently increased target range of $100 to $110 a share. Snowflake stock was indicated at $160 a share just after 10 a.m., then at $165 at around 10:40 a.m., but has yet to trade.
It’s a clear demonstration of continued strong investor interest in both cloud-based software stocks and companies with very high top-line growth rates. The original price talk range on the offer was $75 to $85 a share.
With 277.3 million shares outstanding after the offering, the deal values Snowflake at $33,3 billion, Snowflake, based in San Mateo, Calif., has been generating stunning growth, with revenue of $242 million for the six months through July 31, up 133% from the comparable year-earlier period, following 174% growth in the January 2020 fiscal year
It’s a clear demonstration of continued strong investor interest in both cloud-based software stocks and companies with very high top-line growth rates. The original price talk range on the offer was $75 to $85 a share.
With 277.3 million shares outstanding after the offering, the deal values Snowflake at $33,3 billion, Snowflake, based in San Mateo, Calif., has been generating stunning growth, with revenue of $242 million for the six months through July 31, up 133% from the comparable year-earlier period, following 174% growth in the January 2020 fiscal year
Snowflake (SNOW) stock price performance on its first trading day
So after market commentators and analysts expected SNOW to trade around $120 a stock, the stock took a long time to start trading initially but then shot up to over $250 a stock
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