SNOW - 2 Monster Growth Stocks That Could Increase Sales 693% and 909% in 10 Years According to Certain Wall Street Analysts
2023-12-22 05:25:00 ET
Money flows down the income statement, from sales on the top line to net income on the bottom line. That means sales growth ultimately dictates a company's ability to increase profits and create value for shareholders.
With that in mind, it's worth noting that Morningstar analyst Julie Bhusal Sharma says Snowflake (NYSE: SNOW) can increase sales by 909% over the next decade, and Morgan Stanley analyst Keith Weiss thinks Shopify (NYSE: SHOP) could grow sales by 693% during the same period.
Snowflake posted solid financial results in the third quarter, beating expectations on the top and bottom lines. Its customer base expanded 24% to 8,907, and its average established customer spent 35% more with the company during the past year than it had in the year before. In turn, third-quarter revenue rose 32% year over year to $734 million and non-GAAP net income doubled to $90 million. Investors can expect similar momentum in the future.
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2 Monster Growth Stocks That Could Increase Sales 693% and 909% in 10 Years, According to Certain Wall Street Analysts