Snowflake (SNOW) shares jumped 20% in extended trading on Wednesday after the data analytics software maker reported better-than-expected earnings and boosted its revenue outlook.
The company said it now sees fiscal 2025 product revenue, which accounts for around 96% of total sales, coming in at $3.43 billion, up from its earlier forecast of $3.36 billion, boosted by demand for its software offerings and growing opportunities in the public sector.
Separately, the company announced on Wednesday that it has inked a multiyear partnership with Amazon (AMZN)-backed artificial intelligence (AI) startup Anthropic and agreed to acquire Datavolo, an open data integration platform.
As of Wednesday’s close, snowflake shares had tumbled around 35% so far this year, weighed down by valuation concerns and the departure of the company’s former CEO in February. The stock rose 20% to $154.70 in after-hours trading Wednesday.
Below we navigate Snowflake’s chart using technical analysisand point out …