Latest news with #KingsleyCrane
Yahoo
10 hours ago
- Business
- Yahoo
Canaccord Keeps Buy on Snowflake (SNOW) with $220 Price Target
Snowflake Inc. (NYSE:SNOW) is one of the 10 best growth stocks to buy according to billionaires. On June 9, Canaccord Genuity analyst Kingsley Crane reaffirmed a Buy rating on Snowflake (SNOW) and maintained the price target at $220. In Crane's view, Snowflake continues to strengthen its position by focusing on simplifying data access and making it more broadly usable across enterprises. The platform's architecture, especially its SQL-native interface, has made it easier for organizations to adopt and scale, helping drive up consumption, which remains the core of Snowflake's revenue model. A software engineer at work, surrounded by a wall of computer monitors connected to a 'Data Cloud' platform. The analyst also highlighted the company's product advancements, including Generation 2 Warehouses and Adaptive Compute, which aim to deliver improved performance and efficiency. He also believes that Snowflake's move toward open data standards and its recent acquisition of Crunchy Data suggest a broader strategy to embed itself more deeply within open-source and AI ecosystems. Products like Cortex AI and AISQL, along with the growing Marketplace, underscore its intent to keep pace with rising enterprise demand for AI-powered data tools. Due to these factors, Crane believes that Snowflake is well-positioned as a key long-term beneficiary of the growing demand for AI-driven data platforms among enterprises. Snowflake Inc. (NYSE:SNOW) is a cloud-based data platform that enables organizations to store, analyze, and share data efficiently. Its Data Cloud allows businesses to consolidate data in one secure and reliable place, driving innovation and valuable insights. While we acknowledge the potential of SNOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
02-06-2025
- Business
- Yahoo
Why Are Zscaler (ZS) Shares Soaring Today
Shares of cloud security platform Zscaler (NASDAQ:ZS) jumped 5.1% in the afternoon session after the stock's momentum strengthened following the strong first quarter 2025 results reported the previous week, which exceeded Wall Street's sales, operating profits, and earnings (EPS) estimates. In response, Wall Street analysts maintained bullish ratings, with several raising their price targets, reflecting increased confidence in the company's growth potential. UBS raised its price target from $260 to $315 while reiterating a Buy rating, suggesting the firm saw significant upside potential. Canaccord Genuity analyst Kingsley Crane also raised the stock's price target from $230 to $305 and maintained a Buy rating. He noted that Zscaler outperformed consensus expectations across all key metrics in the quarter. In addition, the company's acquisition of Red Canary was highlighted as an important move into the managed detection and response (MDR) market, a rapidly growing segment. The analyst emphasized that the deal could improve Zscaler's security operations center (SOC) capabilities. Is now the time to buy Zscaler? Access our full analysis report here, it's free. Zscaler's shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 3 days ago when the stock gained 8.4% on the news that the company reported impressive first-quarter 2025 results, with billings, revenue, EPS, and adjusted operating income outperforming Wall Street's estimates. Management clarified there were no changes in the macro environment, which tempered growing concerns cited by peers that reported earlier. Notably, broader market trends around AI and cybersecurity, highlighted by a reported 3,000% increase in enterprise AI usage, suggested an expansion in the addressable market. This is expected to be augmented by recent acquisitions, including Red Canary and Avalor, for data security management. Red Canary reported $140M ARR earlier in the year, suggesting it will be a significant contributor to growth. Looking ahead, Zscaler reported optimistic full-year EPS guidance, which exceeded analysts' expectations. Overall, we think this was still a solid quarter with some key areas of upside. Zscaler is up 59.4% since the beginning of the year, and at $289.50 per share, has set a new 52-week high. Investors who bought $1,000 worth of Zscaler's shares 5 years ago would now be looking at an investment worth $2,727. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Why Are Zscaler (ZS) Shares Soaring Today
Shares of cloud security platform Zscaler (NASDAQ:ZS) jumped 5.1% in the afternoon session after the stock's momentum strengthened following the strong first quarter 2025 results reported the previous week, which exceeded Wall Street's sales, operating profits, and earnings (EPS) estimates. In response, Wall Street analysts maintained bullish ratings, with several raising their price targets, reflecting increased confidence in the company's growth potential. UBS raised its price target from $260 to $315 while reiterating a Buy rating, suggesting the firm saw significant upside potential. Canaccord Genuity analyst Kingsley Crane also raised the stock's price target from $230 to $305 and maintained a Buy rating. He noted that Zscaler outperformed consensus expectations across all key metrics in the quarter. In addition, the company's acquisition of Red Canary was highlighted as an important move into the managed detection and response (MDR) market, a rapidly growing segment. The analyst emphasized that the deal could improve Zscaler's security operations center (SOC) capabilities. Is now the time to buy Zscaler? Access our full analysis report here, it's free. Zscaler's shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 3 days ago when the stock gained 8.4% on the news that the company reported impressive first-quarter 2025 results, with billings, revenue, EPS, and adjusted operating income outperforming Wall Street's estimates. Management clarified there were no changes in the macro environment, which tempered growing concerns cited by peers that reported earlier. Notably, broader market trends around AI and cybersecurity, highlighted by a reported 3,000% increase in enterprise AI usage, suggested an expansion in the addressable market. This is expected to be augmented by recent acquisitions, including Red Canary and Avalor, for data security management. Red Canary reported $140M ARR earlier in the year, suggesting it will be a significant contributor to growth. Looking ahead, Zscaler reported optimistic full-year EPS guidance, which exceeded analysts' expectations. Overall, we think this was still a solid quarter with some key areas of upside. Zscaler is up 59.4% since the beginning of the year, and at $289.50 per share, has set a new 52-week high. Investors who bought $1,000 worth of Zscaler's shares 5 years ago would now be looking at an investment worth $2,727. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
