Snowflake, Twilio rises as analysts highlight continuing growth trends | Seeking Alpha
MMS • RSS
Snowflake (SNOW) tacked on nearly 4% as investment firm Canaccord Genuity said the data warehousing company is “well positioned” to benefit from consolidation in the database and data warehousing markets.
Analyst Kingsley Crane, who has a buy rating and a $195 per-share price target on Snowflake (SNOW), noted that the spending environment should favor companies that are able to offer customers more products and services as they consolidate their vendors, with Snowflake (SNOW) being among them.
Nonetheless, Crane noted this is just one part that drives top-line growth and they are earlier in their growth cycles than the public cloud itself and they can drive revenue cross-selling their own platforms, while also winning new business and driving further consumption from existing customers.
Twilio (TWLO) gained nearly 2.8% as investment firm Piper Sandler said the company has seen better trends that would imply a revenue beat, “but positively was cited for strong momentum entering the year.”