Snowflake Price Levels to Watch as Stock Pops 20% on Strong Earnings, Outlook
Wednesday, Nov 20, 2024 11:11 pm ET
2min read Snowflake's stock price surged 20% following the company's strong Q3 fiscal 2025 earnings report, with revenue growth of 28% year-over-year (YoY) and a net revenue retention rate of 127%. This impressive performance has investors eager to monitor key price levels as the stock continues to climb. Let's analyze the recent earnings, market outlook, and crucial price levels to watch.
Snowflake's Q3 fiscal 2025 earnings report highlighted several key metrics that contributed to the stock's 20% pop. The company's product revenue grew by 29% YoY, reaching $900.3 million, while net revenue retention rate stood at 127%. Additionally, Snowflake's customer base expanded, with 542 customers generating over $1 million in trailing 12-month product revenue and 754 Forbes Global 2000 customers, representing 25% and 8% YoY growth, respectively. The company's remaining performance obligations (RPOs) also grew by 55% YoY to $5.7 billion, indicating a robust future revenue pipeline.
Snowflake's guidance for the fourth quarter of fiscal 2025 further solidified its bullish outlook, with product revenue expected to grow by 23%. This positive earnings news and outlook have driven investor sentiment, as reflected in the stock's significant price increase.
As investors monitor Snowflake's stock price, there are several crucial price levels to watch:
1. **Support Levels**: The stock's recent surge has broken above several resistance levels, which are now potential support zones. These include:
* $125.89 (previous low)
* $129.53 (previous high and today's open)
* $131.21 (previous close)
2. **Resistance Levels**: As the stock continues to climb, it will encounter new resistance levels. Some key resistance zones to watch are:
* $135.00 (round number)
* $140.00 (round number)
* $145.00 (psychological level)
Snowflake's strong earnings and bullish outlook have set the stage for continued growth in the stock price. As investors monitor the stock's performance, keeping an eye on these support and resistance levels can provide valuable insights into potential price movements. While there may be short-term volatility, the company's fundamentals and market outlook suggest a positive long-term outlook.
In conclusion, Snowflake's recent earnings report and strong guidance have driven a 20% pop in the stock price. As investors continue to monitor the stock's performance, key price levels to watch include support zones at $125.89, $129.53, and $131.21, as well as resistance zones at $135.00, $140.00, and $145.00. With a positive market outlook and strong fundamentals, Snowflake's stock price is poised for continued growth.
Snowflake's Q3 fiscal 2025 earnings report highlighted several key metrics that contributed to the stock's 20% pop. The company's product revenue grew by 29% YoY, reaching $900.3 million, while net revenue retention rate stood at 127%. Additionally, Snowflake's customer base expanded, with 542 customers generating over $1 million in trailing 12-month product revenue and 754 Forbes Global 2000 customers, representing 25% and 8% YoY growth, respectively. The company's remaining performance obligations (RPOs) also grew by 55% YoY to $5.7 billion, indicating a robust future revenue pipeline.
Snowflake's guidance for the fourth quarter of fiscal 2025 further solidified its bullish outlook, with product revenue expected to grow by 23%. This positive earnings news and outlook have driven investor sentiment, as reflected in the stock's significant price increase.
As investors monitor Snowflake's stock price, there are several crucial price levels to watch:
1. **Support Levels**: The stock's recent surge has broken above several resistance levels, which are now potential support zones. These include:
* $125.89 (previous low)
* $129.53 (previous high and today's open)
* $131.21 (previous close)
2. **Resistance Levels**: As the stock continues to climb, it will encounter new resistance levels. Some key resistance zones to watch are:
* $135.00 (round number)
* $140.00 (round number)
* $145.00 (psychological level)
Snowflake's strong earnings and bullish outlook have set the stage for continued growth in the stock price. As investors monitor the stock's performance, keeping an eye on these support and resistance levels can provide valuable insights into potential price movements. While there may be short-term volatility, the company's fundamentals and market outlook suggest a positive long-term outlook.
In conclusion, Snowflake's recent earnings report and strong guidance have driven a 20% pop in the stock price. As investors continue to monitor the stock's performance, key price levels to watch include support zones at $125.89, $129.53, and $131.21, as well as resistance zones at $135.00, $140.00, and $145.00. With a positive market outlook and strong fundamentals, Snowflake's stock price is poised for continued growth.
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