Snowflake Stock News

The stock market fell, but rebounded bullishly despite surging oil prices and Treasury yields hitting long-term highs.

The stock market rallies strongly Thursday as big earnings from Snowflake fueled a bullish day for software stocks and the broad market.

Snowflake stock is surging on signs that enterprise AI demand is driving big gains for its business.

Snowflake Inc (NYSE:SNOW) shares jumped more than 20% on Thursday following a blowout second-quarter earnings report, driven by accelerating product revenue growth and surging enterprise adoption of its AI offerings. Bank of America raised its price objective on the stock to $470 from $395, citing accelerating product revenue growth and reiterating a Buy rating.

Stock futures fall, Broadcom beat forecasts for AI Chip sales growth, Micron and China chip makers fight for market share.

Analysts see the software company continuing to benefit from the artificial-intelligence revolution.

Snowflake's shares surged more than 24% before the bell on Thursday as investors cheered a stronger ​annual revenue forecast and signs that the company's AI products are gaining traction.

Snowflake Inc (NYSE:SNOW), the American cloud data analytics company, saw its shares jump 23% in after-hours trading on Wednesday after it posted results that beat Wall Street expectations. The company reported adjusted earnings per share of 62 cents, well ahead of the 45 cents forecast by analysts.